MILAN, Oct 22 (Reuters) - Italian fashion house Moncler
posted better than expected third-quarter revenue but
held back from providing a forecast for the important last
quarter of the year because of surging coronavirus infections.
The reopening of shops in most regions during the summer
helped sales to pick up strongly in China and South Korea and
register "significant improvement" in the United States since
August, though Europe remained weak because of a lack of
tourists, the company said.
"We ended the third quarter with better results than we
expected ... The signs we are seeing in October are encouraging,
but we know we have challenging weeks ahead of us, made even
more uncertain by the current global economic and health
situation," Chairman and Chief Executive Remo Ruffini said in a
In the months between July and September revenue dropped 15%
year on year at current exchange rates to 361.8 million euros
($428 million). That compared with an analyst consensus of 340.7
Moncler has become one of the best-performing luxury groups
in the sector after a makeover under Ruffini.
But with shoppers confined to home during lockdowns in its
main markets, sales were down by about 50% in the second quarter
after an 18% drop in the first quarter.
($1 = 0.8461 euros)
(Reporting by Claudia Cristoferi
Editing by David Goodman)