×
2 427
Fashion Jobs
AESOP
Retail Consultant | Fixed-Term | Part-Time | Brighton
Permanent · Brighton
PRETTYLITTLETHING
Senior Affiliate Marketing Executive
Permanent · MANCHESTER
BOOHOO
Ecommerce Trading Executive
Permanent · MANCHESTER
ESTEE LAUDER
Clinique - Consultant - Brown Thomas, Dublin - 15 Hours - Part-Time, Permanent
Permanent · Dublin
SHISEIDO
Nars Account Manager - Harvey Nichols London (37.5 Hours)
Permanent · London
ESTEE LAUDER
Clinique - Consultant - m&s Newcastle - 15 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTEE LAUDER
jo Malone London - Marketing And Consumer Engagement Director
Permanent · London
AESOP
Retail Consultant | Part-Time, Permanent | Aesop Selfridges Exchange Square, Manchester
Permanent · Central
BOOHOO
Print Sales Account Manager
Permanent · MANCHESTER
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTEE LAUDER
Mac Cosmetics - Business Manager - Mac Stratford2, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
HARRODS
Brand Manager
Permanent · LAKESIDE
HARRODS
Uniformed Security Officer
Permanent · LONDON
VF INTERNATIONAL
Senior Distribution Systems Specialist
Permanent · COALVILLE
ESTEE LAUDER
Bobbi Brown, la Mer And Darphin - CRM & Insights Assistant
Permanent · London
HARRODS
Food Supply Manager
Permanent · LONDON
JOHN LEWIS
Loss Prevention Partner
Permanent · CAMBRIDGE
HEAD OFFICE
Cyber Security Lead – Incident Response
Permanent · BRACKNELL
HEAD OFFICE
Delivery & Operations Manager
Permanent · BRACKNELL
BOOHOO GROUP
Product Manager
Permanent · MANCHESTER
DEBENHAMS
CRM Executive
Permanent · LONDON
PRETTYLITTLETHING
Business Analyst
Permanent · MANCHESTER
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


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.