Moncler : Slowdown confirmed, slightly more caution in our forecasts
>EBIT margin surprised on the upside in H1 but growth for Moncler DTC was confirmed with much a slower pace in Q2 at +8% - The group’s figures for H1 show total revenue of € 1.230.2bn and EBIT of € 258.7m, compared to ODDO BHF forecasts of respectively c.€ 1.234bn and c.€ 238m while the company-compiled consensus was for respectively € 1.231bn and € 247m. EBIT was slightly stronger than expected but revenues were just in line. After a Q1 where growth for the Moncler ...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).
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.
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