Moncler: shares rise as sales beat expectations
(CercleFinance.com) - Italian luxury down jacket maker Moncler posted a 23% drop in nine-month revenue late on Thursday, with sales continuing to suffer from the Covid-19 pandemic.
Moncler said its revenue fell to 765 million euros over the first nine months of the year, compared to 995 million euros in the same period of 2019. At constant exchange rates, sales were down 22%, the group said.
However, analysts pointed out that third-quarter revenues reached 362 million euros, above the consensus of 341 million euros, while the fall in organic terms (-14%) also beat the consensus of -18%.
This performance led to the share rising by over 1% in Milan on Friday morning.
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