(Reuters) – Revenues at Italian luxury down jacket maker Moncler topped analyst expectations in the second quarter helped by easing COVID-19 restrictions, adding to evidence of a sharp rebound in the sector.
Moncler more than doubled sales of its eponymous brand in the period, surpassing pre-pandemic levels, with the recent acquisition of high-end streetwear brand Stone Island Moncler further boosting group revenue starting from April.
Excluding the Stone Island’s acquisition, Moncler’s revenue jumped 118% to 200 million euros in the April-to-June quarter from the same period of last year, which was the hardest hit by the pandemic with shops shut and international travel brought to a standstill.
Compared with the second quarter of 2019, Moncler’s sales were up 5%. The second quarter historically accounts for only a fifth of full-year sales due to the seasonality of the brand.
Stone Island’s second-quarter sales totalled 56.2 million euros, Moncler said.
Consolidated revenues came in at 256.3 million euros in the quarter, above an average analyst forecast of 248 million euros, according to a consensus provided by the company.
(Reporting by Claudia Cristoferi; editing by Valentina Za)
