Latest news with #Moncler
CNBC
2 hours ago
- Business
- CNBC
Moncler raises prices on tariffs, may postpone store openings if downturn worsens
Italian luxury house Moncler said it's currently relying on "very slight price increases" to offset the initial impact of U.S. tariffs, but warned that broader economic weakness could cause it to delay its new store openings next year. The Milan-headquartered retailer said Wednesday that it had raised prices by "mid-single-digit" percentages for the second half of 2025 and will raise them for the first half of next year, while adding that it was awaiting further clarity on U.S. levies before setting out its full strategy for 2026. "We normally finalize our pricing strategy for the full Winter 2026 by October, more or less. So it's still early," Luciano Santel, group chief corporate and supply officer, said during an earnings call accompanying its second-quarter results. Shares of Moncler were down 4% by 2 p.m. London time (9 a.m. E.T.). Chief Business Strategy and Global Market Officer Roberto Eggs said he intended for those further price rises to be "more conservative," as the firm seeks to reconcile higher input costs with customer retention, but noted that it was also dependent on macro trends and currency movements. "Clearly, the pricing today for consumers is a concern. I think we need to pay even more attention on this," he said. Eggs also noted that the business would remain flexible on its plans for a dozen or so new store openings etched for 2026, based on the macro outlook and wider recovery of the beleaguered luxury sector. "For the plan 2025, it's already there. Regarding 2026, the plan is not completely finalized, so we have some flexibility, ... in case things will not get better, to postpone some of the openings," he said, adding that those plans would also be set by October. Moncler on Wednesday posted a dip in second-quarter sales after the market close, as weak tourist flows weighed on otherwise robust domestic demand in the key U.S. and China markets. Group revenues fell 1% year-on-year at constant exchange rates to 396.6 million euros ($536.7 million) in the three months to June 30, below the 427.2 million forecast by analysts in an LSEG poll. The U.S., which accounts for 14% of Moncler brand sales, recorded a 5% sales uptick in the quarter, but the company said it was unclear whether that was driven by shoppers accelerating purchases ahead of the ramping up of tariffs. "To tell you that if this was driven by an anticipation of buying links to the tariffs? Honestly, I cannot tell you," Eggs said, noting other initiatives, such as a partnership with luxury department store Nordstom, which helped boost demand. Sales in Asia, the group's largest market, were flat on the quarter, while in Europe, the Middle East and Africa they declined 8%. The company attributed it to a rebalancing of the Japanese yen, with Japan the only Asian country to record negative sales growth, as well as soft tourist spending in Europe.
Yahoo
15 hours ago
- Business
- Yahoo
Moncler revenue edges higher amid a deceleration in tourist flows
-- Moncler posted a slight rise in first-half revenue, navigating a challenging global environment marked by slowing tourist flows and softening consumer demand in key markets. Group revenue reached €1.23 billion in the six months to June 30, up 1% at constant exchange rates (cFX), with core Moncler brand sales also inching up 1% cFX to €1.04 billion. Stone Island revenue fell 1% cFX to €186.7 million, though the brand posted a 6% gain in the second quarter. Second-quarter Moncler sales slipped 2% cFX, impacted by a slowdown in the Direct-to-Consumer (DTC) channel, particularly in EMEA and Japan. However, revenue in the Americas gained 5% cFX, supported by improving DTC performance. Group EBIT declined to €224.8 million from €258.7 million, with the margin narrowing to 18.3% from 21% a year earlier, mainly due to the phasing of marketing spend. Net income dropped to €153.5 million from €180.7 million. 'The first half of the year reminded us once again how unpredictable and complex the world can be,' said CEO Remo Ruffini. 'Amid ongoing macroeconomic uncertainty, our Group will continue to operate with consistency and resilience.' The company ended the period with €980.8 million in net cash after paying €345 million in dividends. Capital expenditure rose to €82 million, reflecting increased investment in infrastructure and store expansion. Looking ahead, Moncler said it remains focused on agility and brand investment as it enters the second half of 2025, which it described as marked by 'elevated' geopolitical and economic uncertainty. Related articles Moncler revenue edges higher amid a deceleration in tourist flows These Under-the-Radar Stocks Offer Better Risk-Reward Ratio Than Nvidia Surge of 50% since our AI selection, this chip giant still has great potential Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Network
21 hours ago
- Business
- Fashion Network
Moncler's revenues slipped in second quarter, hit by lower tourist spending
Italian luxury outerwear group Moncler reported on Wednesday a 1% decline at constant exchange rates in its second quarter revenues, with its key eponymous brand affected by a decline in tourist spending in Europe and Japan. For the Moncler brand, sales in Asia slowed compared with the first quarter and were flat, mostly due to softer tourist flows in Japan, the group said. Revenues in the Europe and Middle East region were down 8%, while sales in the Americas remained positive. Half-year consolidated revenues totalled 1.23 billion euros (1.41 billion dollars), broadly in line with a company-provided consensus. The first half operating profit declined 13% to 225 million euros, still slightly above analysts expectations, with marketing expenses weighted towards that period. "Entering the second half of 2025, uncertainty in the global geopolitical and economic landscape remains elevated," Moncler said in a statement. "The group continues to prioritise operational agility, while steadily investing in its organisation, talent, and distinctive brands." The Stone Island clothing brand is also part of the group. The luxury industry is experiencing a prolonged downturn, which has been compounded by the uncertainty unleashed by U.S. President Donald Trump 's trade war. Luxury heavyweights LVMH and Kering are expected to report another drop in quarterly sales this month.
Fashion Network
21 hours ago
- Business
- Fashion Network
Moncler's revenues slipped in second quarter, hit by lower tourist spending
Italian luxury outerwear group Moncler reported on Wednesday a 1% decline at constant exchange rates in its second quarter revenues, with its key eponymous brand affected by a decline in tourist spending in Europe and Japan. For the Moncler brand, sales in Asia slowed compared with the first quarter and were flat, mostly due to softer tourist flows in Japan, the group said. Revenues in the Europe and Middle East region were down 8%, while sales in the Americas remained positive. Half-year consolidated revenues totalled 1.23 billion euros (1.41 billion dollars), broadly in line with a company-provided consensus. The first half operating profit declined 13% to 225 million euros, still slightly above analysts expectations, with marketing expenses weighted towards that period. "Entering the second half of 2025, uncertainty in the global geopolitical and economic landscape remains elevated," Moncler said in a statement. "The group continues to prioritise operational agility, while steadily investing in its organisation, talent, and distinctive brands." The Stone Island clothing brand is also part of the group. The luxury industry is experiencing a prolonged downturn, which has been compounded by the uncertainty unleashed by U.S. President Donald Trump 's trade war. Luxury heavyweights LVMH and Kering are expected to report another drop in quarterly sales this month.
Fashion Network
a day ago
- Business
- Fashion Network
Moncler's revenues slipped in second quarter, hit by lower tourist spending
Italian luxury outerwear group Moncler reported on Wednesday a 1% decline at constant exchange rates in its second quarter revenues, with its key eponymous brand affected by a decline in tourist spending in Europe and Japan. For the Moncler brand, sales in Asia slowed compared with the first quarter and were flat, mostly due to softer tourist flows in Japan, the group said. Revenues in the Europe and Middle East region were down 8%, while sales in the Americas remained positive. Half-year consolidated revenues totalled 1.23 billion euros (1.41 billion dollars), broadly in line with a company-provided consensus. The first half operating profit declined 13% to 225 million euros, still slightly above analysts expectations, with marketing expenses weighted towards that period. "Entering the second half of 2025, uncertainty in the global geopolitical and economic landscape remains elevated," Moncler said in a statement. "The group continues to prioritise operational agility, while steadily investing in its organisation, talent, and distinctive brands." The Stone Island clothing brand is also part of the group. The luxury industry is experiencing a prolonged downturn, which has been compounded by the uncertainty unleashed by U.S. President Donald Trump 's trade war. Luxury heavyweights LVMH and Kering are expected to report another drop in quarterly sales this month. © Thomson Reuters 2025 All rights reserved.
