MILAN (Reuters) – Revenues at Italian luxury outwear maker Moncler fell 3% at constant exchange rates in the third quarter, slightly more than analysts had anticipated, with weakness spread across all its main markets. Luxury groups have been struggling with weaker consumer spending in recent quarters, especially in China. Kering last week reported a larger […]
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Sales at Moncler slip 3% in third quarter as global demand weakens
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MILAN (Reuters) – Revenues at Italian luxury outwear maker Moncler fell 3% at constant exchange rates in the third quarter, slightly more than analysts had anticipated, with weakness spread across all its main markets.
Luxury groups have been struggling with weaker consumer spending in recent quarters, especially in China. Kering last week reported a larger than expected 16% drop in quarterly sales on a comparable basis.
Total revenues at the Milan-based group, known for its puffer jackets, totalled 635.5 million euros ($686 million) in the July-September period, against a company-provided 645 million euros analyst consensus forecast.
($1 = 0.9263 euros)
(Reporting by Elisa Anzolin; Writing by Valentina Za, editing by Cristina Carlevaro)