Moncler posts upbeat 2016 sales driven by US, Asia
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
What’s good for Italian luxury ski jacket maker Moncler could be good for Canada Goose, the rival purveyor of high end winter coats that is preparing to go public.
Milano-based Moncler said on Tuesday that profits climbed to €196m in 2016 from €167.9m the previous year and was ahead of analysts’ expectations of €189.6m. Gross margin, a key metric, climbed to 75.7 per cent of revenues, compared with 74.4 per cent in 2015.
And consolidated revenues rose 18 per cent from a year ago to €1.04bn in fiscal 2016 — led by sales growth in the Americas and Asia — and topping analysts’ estimates of €1.01bn.
The company said in a statement:
The US retail channel benefited from new openings and a consistently improving trend in the fourth quarter. The Canadian market also saw significant growth in the wholesale and retail channels.
Moreover, the company said it is forecasting “a scenario of further growth in 2017″.
That could be welcome news for luxury coat maker Canada Goose, which is known for its $900 parkas and earlier this month filed for an initial public offering.
Moncler shares rose as much as 1.4 per cent to €18.02 and are up 9 per cent so far this year.
Comments