×
285
Fashion Jobs
NEWELL
Analyst, Power BI
Permanent · CHENNAI
NEWELL
Associate Manager, Brand Marketing
Permanent · MUMBAI
360 REALTORS
Team Leader/Area Sales Manager/Team Handling - Sales
Permanent · Pune
N R AROMAS
Area Sales Manager
Permanent · Indore
THE INFINITY SPACE
Area Sales Manager - Kotak Group | Hiring Urgently
Permanent · Faridabad
THE INFINITY SPACE
Area Sales Manager
Permanent · Ambala
SUPRO CONSULTING
on Roll - Area Sales Manager
Permanent · Nagpur
QUICK JOBS
Area Sales Manager -Loyalty Channel
Permanent · Ghaziabad
AVANTOR
Area Sales Manager - Chromatography || Hyderabad
Permanent · Hyderabad
PERFECT PUBLISHING SOLUTIONS
Area Sales Manager & Sales Executive-Exp/ Freshers-All India Openings
Permanent · Lucknow
ACME SERVICES PRIVATE LIMITED
Salon Manager/ Area Salon Manager/ Sales Head/ Center Head
Permanent · Mumbai
MAICO VENTILATION PVT LTD
Area Sales Manager - Madhya Pradesh
Permanent · Indore
ACME SERVICES
Finance Manager With a Leading Fashion Brand
Permanent · Surat
HOMEBAZAAR.COM
Hiring For Sales Manager - Real Estate - @ Andheri/Lower Parel
Permanent · Navi Mumbai
ADIDAS
Senior Manager Marketing Operations
Permanent · GURUGRAM
PEOPLE LINK
Immediate Opening of Sales Manager-Home Furnishing-Panipat
Permanent · Panipat
ROYAL TRANSPORT CORPORATION
Sales & Marketing Manager (Full Truck Load And Odc Project Transport)
Permanent · Nashik
MADHU JAYANTI INTERNATIONAL
Area Sales Manager
Permanent · Patna
DMART
Opening For The Post of Circle Head - Operations
Permanent · Bengaluru
PERSOLKELLY INDIA
Area Sales Manager- Corporate Sales-Faridabad- Relocation Company
Permanent · Faridabad
NR CONSULTING
Requirement- Sales Manager- Mumbai
Permanent · Mumbai
XWELL HUMAN RESOURCE
Area Sales Manager All Rajasthan Fmcg Company
Permanent · Ajmer
By
Reuters API
Published
May 4, 2022
Reading time
2 minutes
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Moncler sales beat expectations in first quarter ahead of investor day

By
Reuters API
Published
May 4, 2022

First quarter sales at Italian fashion group Moncler jumped by 60%, beating once again analysts expectations, driven by a strong performance in China that offset new Covid-19 restrictions, as well as a surge in U.S. and online sales.


Photo: Moncler - Moncler


The luxury outwear maker will hold an investor presentation on Thursday, its first since the outbreak of the coronavirus pandemic and the acquisition of streetwear brand Stone Island in 2020.

Overall revenues for the three months to end March totalled 589.9 million euros ($622 million), up 60% from the same period a year ago and above an analyst consensus for 564 million euros provided by the company.

Moncler, like most other rivals, has seen sales boom in Europe and the United States as COVID-19 restrictions eased but faces a setback in the key Chinese market where a strict lockdown has been imposed in the luxury hub of Shanghai and other cities since March.

On Wednesday it said around 30% of its main brand's stores in China were currently closed because of the restrictions, up from 10% in March. Sales in the country posted double-digit growth in the first three months of the year.

Just over a third of Moncler's retail sales came from China last year but the brand is less exposed than rivals as most of its first quarter sales take place in January and February, according to analysts, and the second quarter is seasonally less important for the group's annual earnings.

Global quarterly sales of the main Moncler brand, known for its puffer jackets and outdoor clothing, grew by 29% at constant exchange rates to 473.4 million euros in the quarter, compared with an average analyst estimates of 459 million euros.

Stone Island, consolidated in the group's accounts since April, booked sales of 116.5 million euros sales compared with 105 million euros expected by analysts.

The impact of the war in Ukraine and rising inflation are also themes dominating investor sentiment.

"I remain optimistic about the future", Chairman and Chief Executive Remo Ruffini said in a statement.

UBS analysts said the group was set to be one of the biggest beneficiaries of the return of tourism to Europe, adding that the six months from March to August account for just one third of its yearly sales, thus mitigating the possible risk of prolonged lockdowns in China.

© Thomson Reuters 2023 All rights reserved.