Moncler posts 25% sales increase in the first 9 months of 2015
Italian luxury fashion brand Moncler posted a 28% increase in nine-month core profit as stellar growth eased due to softer consumer spending in China and the United States.
Moncler said on Monday adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) totalled 174.5 million euros ($188 million) in January-September, in line with an average 172-million euro forecast in a Reuters poll of analysts.
Sales rose 25 percent in January-September to 561.5 million euros, in line with forecasts. At constant exchange rates revenues rose 17 percent.
Weakness in China, where economic growth has slowed down more than expected, and the United States, as a strong dollar hits tourist flows, has taken a toll on the luxury industry.
Sales in Italy, which accounts for nearly a fifth of the total, were up just 3 percent in the nine months. Sales in the rest of Europe kept a solid momentum while revenue growth in Asia and the Americas moderated after an exceptional first half.
Comparable store sales rose 13 percent in the first nine months, easing the pace after a 22 percent increase in January to June.