Report
Emira Sagaama ...
  • Jean Danjou

Moncler : Relatively sluggish start to the year, but we forecast a better H2, additionally strengthened by Stone Island

>Q1 sales did not surprise but were nonetheless down 2%, below 2019 levels at constant forex - Q1 sales of € 365.5m were a shade ahead of the consensus (c. € 361m) but slightly below our forecast of € 372m. While they revealed brisk year-on-year growth at constant forex (+21%, with +22% in retail and +17% in wholesale), the two-year performance was lacklustre compared with the leading franchises at -2% at constant forex, even though two-year growth in Q4 2020 topped +...
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).

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Emira Sagaama

Jean Danjou

Other Reports on these Companies
Other Reports from Oddo BHF

ResearchPool Subscriptions

Get the most out of your insights

Get in touch