Italy's Moncler first quarter sales rise more than expected

Italian luxury outerwear maker Moncler reported on Tuesday a stronger-than-expected 18 percent rise in first quarter sales, boosted by a good performance in China and Japan and strong wholesales in the United States.

Moncler said sales came in at 237.3 million euros ($270.12 million) in the first three months of the year, against a Thomson Reuters SmartEstimate of 222 million euros. At current exchange rates sales rose 17 percent compared to the same period in 2015.

"Despite the persisting uncertain and volatile macroeconomic situation, we will be able to reach further growth in 2016 with respect to 2015," said Chairman and Chief Executive Remo Ruffini in a statement.

Retail sales were up 22 percent to 170 million euros, at constant exchange rates, mainly due to organic growth of its 175 directly-owned flagship stores, Moncler said.