MILAN, April 21 (Reuters) - Italian luxury outerwear group Moncler on Tuesday reported a 6% increase in first-quarter revenues, pushed by a strong performance in Asia, the company's main market.
Moncler Reports 6% Revenue Growth in Q1 on Robust Asia Sales Performance
Moncler's First Quarter 2024 Financial Results Overview
Revenue Growth and Analyst Expectations
MILAN, April 21 (Reuters) - Italian luxury outerwear group Moncler on Tuesday reported a 6% increase in first-quarter revenues, pushed by a strong performance in Asia, the company's main market.
Excluding currency effects, revenues rose 12% to 881 million euros ($1 billion) in the quarter, beating a company-provided analyst consensus of 841 million euros.
Regional Sales Performance
Asia: Driving Growth
Sales at the flagship Moncler brand were buoyed demand in China and South Korea, while they were weaker in Europe and the Middle East due to subdued tourism trends.
Americas and Other Markets
Moncler brand sales in the Americas rose 7% at constant exchange rates, but fell 2% when currency effects were taken into account.
($1 = 0.8513 euros)
Reporting and Editorial Credits
(Reporting by Elisa Anzolin, editing by Giulia Segreti)
