July 27, 2021
Italian luxury down jacket maker Moncler’s earnings exceeded analysts’ expectations as COVID-19 restrictions were relaxed, adding evidence of a sharp recovery in the sector.
With the recent acquisition of a high-end streetwear brand, Moncler has more than doubled the sales of its eponymous brand beyond pre-pandemic levels. Stone island Moncler has been boosting group profits since April.
Excluding the acquisition of Stone Island, Moncler sales increased 118% in the April-June quarter from the same period last year to € 200 million.
Compared to the second quarter of 2019, Moncler sales increased by 5%. Due to the seasonality of the brand, the second quarter has historically accounted for only one-fifth of full-year sales.
According to Moncler, Stone Island’s second-quarter sales totaled € 56.2 million.
According to the company’s consensus, consolidated sales for the quarter were € 256.3 million, above analysts’ average forecast of € 248 million.
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Moncler’s own brand sales exceeded pre-pandemic levels in the second quarter
Source link Moncler’s own brand sales exceeded pre-pandemic levels in the second quarter