By
Reuters API
Published
Aug 27, 2022
Download
Download the article
Print
Text size

Italian fashion group Zegna raises guidance for 2022

By
Reuters API
Published
Aug 27, 2022

 Italian fashion group Ermenegildo Zegna raised its full-year guidance on Friday after reporting a 21% increase in half-year revenue.


Zegna - Fall-Winter2022 - Menswear - Milan - © PixelFormula



The company, which is listed in New York, said it now expects revenue growth in the mid-teens in percentage terms versus previous guidance for low-teens percentage growth.

It also forecast a "solid improvement" in adjusted earnings before interests and taxes (EBIT) having previously spoken only of an improvement.

"While our current performance is strong, including a healthy rebound in the Greater China Region, the global geopolitical and economic outlook remains uncertain," Chairman and CEO Ermenegildo Zegna said in a statement.

"I am confident that we will remain on track, as we execute our strategy to achieve our new 2022 guidance," he added.

The family-controlled group, which controls Italy's luxury menswear brand Zegna and U.S. label Thom Browne, said revenue rose 21% to 729 million euros ($729 million) in the first six months of 2022 while adjusted EBIT rose 24% to 82.7 million euros.
 

© Thomson Reuters 2024 All rights reserved.