×
92 240
Fashion Jobs
GAP INC.
Specialist, Asset Protection (3rd Shift) - Fishkill, ny
Permanent · Fishkill
GAP INC.
Specialist, Asset Protection (2nd Shift) - Fishkill ny
Permanent · Fishkill
COLUMBIA
International Marketing Manager
Permanent · PORTLAND
ALICE AND OLIVIA
Sales Supervisor - Greenwich
Permanent · Greenwich
ALICE AND OLIVIA
Sales Supervisor - Manhasset
Permanent · Manhasset
NORDSTROM
Retail Stock - Last Chance Phoenix
Permanent · Phoenix
NORDSTROM
Asset Protection - Agent - Columbia Crossing Rack
Permanent · Columbia
NORDSTROM
Asset Protection - Agent - Perimeter Expo Rack
Permanent · Atlanta
NORDSTROM
Asset Protection - Agent - Clearwater Rack
Permanent · Clearwater
NORDSTROM
Asset Protection - Agent - Fashion Show
Permanent · Las Vegas
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Roseville
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Sioux City
KOHLS
Full-Time Loss Prevention Officer
Permanent · Gurnee
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Round Rock
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Lee's Summit
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Rhinelander
URBN
Anthropologie Visual Merchandising Manager
Permanent · BLOOMINGTON
WHITE HOUSE BLACK MARKET
District Manager - Knoxville
Permanent · KNOXVILLE
BLOOMINGDALE'S
Asset Protection Outlet Associate, Full Time - Dolphin Mall
Permanent · Miami
MICHAEL KORS
Full Time Sales Supervisor Oakbrook, il
Permanent · Oak Brook
MACY'S
Asset Protection Detective, Fashion Valley - Part Time
Permanent · San Diego
MACY'S
Asset Protection Security Guard, Concord Sunvalley - Part Time
Permanent · Concord
By
Reuters API
Published
May 4, 2022
Reading time
2 minutes
Share
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 2022 All rights reserved.