Why is Samsonite stock surging today?

Samsonite stock surged 6.5% to HK$15.68 on Friday after the luggage giant released flat nine-month and third-quarter 2026 results and unveiled a new share repurchase program set to begin today.

The company returned to sales growth in the third quarter of 2026, with constant-currency net sales up 0.6%. Gross margin improved to 59.8% excluding U.S. tariff refunds, while adjusted EBITDA margin rose to 15.8%, and adjusted free cash flow reached $108 million, up $44 million from a year earlier.

Samsonite announced a further on-market share buyback program commencing November 13, 2026, with a maximum size of US$50 million, scheduled to run until the next annual general meeting.

The board stated it considers the share price below intrinsic value and believes the program reflects confidence in long-term business and growth prospects, disciplined capital allocation, and a focus on shareholder returns.

On the broader market front, the Hang Seng Index fell 0.8% on Friday as sentiment towards local tech stocks remained testy.