Moncler: good results snubbed by market
(CercleFinance.com) - Moncler shares are trading down on Thursday in Milan (-0.
8% at lunchtime), despite the good results that the Italian upmarket jacket maker unveiled last night.
The company outperformined expectations in Q1, posting 61% sales growth to 589.9 million euros, including 60% growth at constant exchange rates.
Retail sales at the group's 238 shops, which represent almost 80% of total sales, rose by 34% at constant exchange rates, while wholesale sales increased 12%.
In a reaction note, analysts at Oddo BHF describe a "robust" momentum at the beginning of the year and a "confirmed" return to form for the group created by Remo Ruffini.
In particular the broker highlights the good performance of the recently acquired Stone Island brand, which beat expectations by almost 10% in the past quarter.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
8% at lunchtime), despite the good results that the Italian upmarket jacket maker unveiled last night.
The company outperformined expectations in Q1, posting 61% sales growth to 589.9 million euros, including 60% growth at constant exchange rates.
Retail sales at the group's 238 shops, which represent almost 80% of total sales, rose by 34% at constant exchange rates, while wholesale sales increased 12%.
In a reaction note, analysts at Oddo BHF describe a "robust" momentum at the beginning of the year and a "confirmed" return to form for the group created by Remo Ruffini.
In particular the broker highlights the good performance of the recently acquired Stone Island brand, which beat expectations by almost 10% in the past quarter.
Copyright (c) 2022 CercleFinance.com. All rights reserved.