ITALY: International growth boosts Moncler Q1
- Q1 earnings up 43.3%
- Gross margin widens to 72.3%
- Sales climb 16%
Luxury apparel group Moncler saw earnings and sales climb in its first-quarter thanks to double-digit revenue growth across its international markets.
Earnings in the three months to the end of March totaled EUR23.5m (US$32.2m), a 43.3% increase on the prior year period. The 2013 figure included net losses from discontinued operations of EUR3.3m.
Gross margin in the period widened to 72.3% from 71% last year. The improvement was due chiefly to the development of the group's retail channel.
Net sales in the quarter climbed 16% to EUR145.5m from EUR125.6m a year earlier, while comparable store sales grew 10%.
Revenues were boosted by double-digit growth in all of Moncler's international markets. In particular, Asia recorded revenue growth of 42% due to strong growth in both the Japanese and Chinese markets.
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