Moncler: third quarter revenues rise by 18%, “very positive signs” in Q4
Fashionable Italian outerwear brand Moncler joined the growing list of luxury companies who aren’t worried about China this week. The company said that sales rose by 18% over the first nine months of the year – stripping out currency effects, that becomes an even more impressive 23%. For the third quarter, those figures stood at 15% and 18%, respectively. All these figures are reported against the comparable quarter in 2017. Furthermore, Moncler said it’s seen strong sales in the China market – welcome news in the current climate – and it’s seeing “very positive signs” at the beginning of the fourth quarter.
Moncler’s share price has risen by 18% year to date
Source: Yahoo Finance
The company’s chairman and CEO, Remo Ruffini, made the following comment over the results: “Being able to post a further 18 percent growth also for the third quarter of 2018, despite an increasingly challenging comparison base, is an exceptional result for Moncler which, I believe, confirms the strength of the strategy and our ability to execute. The fourth quarter has just started, but we continue to see very positive signs in all our markets. The Chinese Golden Week produced even better results compared to last year, and Moncler’s brand momentum remains strong on all markets.”
Moncler’s positive performance was very evenly spread out across all core markets. For the first nine months of 2018, the company said revenues in Italy rose 8%; Europe the Middle East and Africa saw increases of 15%; in Asia-Pacific, sales rose by a massive 39%; and in the Americas, Moncler logged a 10% rise. Again, all these figures are reported year on year.
Dominion holds Moncler in its Global Trends Luxury Fund.
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