Like the rest of the Samsonite group, Gregory has been affected by the Covid-19 pandemic. After posting strong increases every quarter, the technical backpack brand of the group suffered a 7.6 percent drop in sales on a currency-neutral basis during the first quarter. The less technical High Sierra brand endured an even higher 48.3 percent decrease. The quarterly sales of the two backpack brands amounted to $16.0 million and $6.0 million, respectively. The chief executive of Samsonite, Kyle Gendreau, said that “the near-complete halt in travel and tourism worldwide has adversely affected the group’s performance in the first quarter of 2020 and is expected to continue to impact our business for the remainder of 2020.” The group reported an adjusted net loss of $38.6 million on 27.7 percent lower revenues of $601.2 million for the first three months of the year, in spite of big cuts in marketing and other expenses. It has taken several measures to improve its liquidity, which stood at $1.8 billion at the end of the period.

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