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In Milan, Moncler lost 6.02%, the biggest drop on the Stoxx 600, after poorly received results. Indeed, the luxury down jacket manufacturer announced yesterday that its sales had increased by 21% at constant exchange rates in the first quarter of the year. This is slightly better than analysts’ expectations.
Luxury down jacket specialist Moncler said on Thursday that sales rose 21% at constant exchange rates in the first quarter of the year, driven by strong growth in Asia and solid signs of recovery in North America.
Revenues for the January-March quarter were 365.5 million of euros (439.22 million of dollars), compared with an average analyst expectation of 361 million of euros, according to a Refinitiv consensus.
Sales jumped 53% in Asia over the period, boosted in particular by China and Korea, and rose 34% in the Americas, while remaining weak in Italy and the rest of Europe.
Moncler’s rebound in the first quarter, with sales broadly in line with the first quarter of 2019, echoes recent strong results from other luxury groups such as LVMH, Kering and Hermès, signalling a resurgence in the sector after the unprecedented fall in sales due to the pandemic.
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In Milan, Moncler lost 6.02%, the biggest drop on the Stoxx 600, after poorly received results. Indeed, the luxury down jacket manufacturer announced yesterday that its sales had increased by 21% at constant exchange rates in the first quarter of the year. This is slightly better than analysts’ expectations.
Luxury down jacket specialist Moncler said on Thursday that sales rose 21% at constant exchange rates in the first quarter of the year, driven by strong growth in Asia and solid signs of recovery in North America.
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In Milan, Moncler lost 6.02%, the biggest drop on the Stoxx 600, after poorly received results. Indeed, the luxury down jacket manufacturer announced yesterday that its sales had increased by 21% at constant exchange rates in the first quarter of the year. This is slightly better than analysts’ expectations.
Luxury down jacket specialist Moncler said on Thursday that sales rose 21% at constant exchange rates in the first quarter of the year, driven by strong growth in Asia and solid signs of recovery in North America.
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