Bryan Garnier - Moncler SpA (MONC) MONCLER: Reassuring Q3 and current trading despite H-K protests | BUY | EUR42(+26%)

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Bryan Garnier

Cedric Rossi

MONCLER: Reassuring Q3 and current trading despite H-K protests | BUY | EUR42(+26%)

MONCLER - BUY | EUR42(+26%)
Reassuring Q3 and current trading despite H-K protests

Q3 FX-n growth of 10% matched expectations
More sensitive deceleration in Europe than in Asia-Pacific
Reassuring current trading
Minor adjustments but still one of our favourites

25/10/2019 4 EN

Underlying

Moncler SpA

Moncler is a jacket and sportswear production group based in Italy. Co. directly produces and distributes its own clothing and accessories collections, through its direct boutiques and exclusive department and multibrand stores. Co. branded products range from the high fashion segment with the Gamme Rouge and Gamme Bleu collections (exclusive products and selected distribution to boutiques) to the Grenoble collection (sporting and technical garments). As of Dec 31 2013, Co. operated a network of 135 stores, including 107 directly operated stores (DOS) and 28 wholesale stores (27 shop-in-shop and 1 franchise store).

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IT0004965148 Italy

Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Cedric Rossi

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MONCLER: Reassuring Q3 and current trading despite H-K protests | BUY | EUR42(+26%)

ODDO : March down in double digit leads to a -6.3% decline in Q1 for Swiss watch exports

ODDO : March down in double digit leads to a -6.3% decline in Q1 for Swiss watch exports

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L'Oréal reports encouraging Q1 2024 sales figures

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