Moncler Group Proves Resilient, Posts a Better-than-expected Performance in Q3

Core Insights - Moncler Group demonstrated resilience in the first nine months of the year, with sales supported by strong performance in China and the Americas, despite a 1 percent year-on-year decline to 1.84 billion euros [1][3] - The third quarter saw a better-than-expected sales dip of 1 percent year-on-year at constant exchange, reaching 615.6 million euros, surpassing the company's consensus estimate of 603.8 million euros [1] Sales Performance - Moncler brand sales for the nine-month period fell 1 percent to 1.55 billion euros, while Stone Island sales also declined by 1 percent to 288.1 million euros [3] - In Asia, revenues remained flat at 752.6 million euros, accounting for 48.5 percent of total sales, with China outperforming the region while Japan and South Korea showed weaker performance [7] Fourth Quarter Outlook - The company reported positive trading in the fourth quarter so far, with October starting well and positive results across different regions [5] - Direct-to-consumer sales for Stone Island posted double-digit growth of 11 percent at constant exchange in the third quarter [5] Expansion and Campaigns - Moncler expanded its store network by adding seven new stores and plans to open a flagship store on Fifth Avenue in New York City by June [6] - The "Warmer Together" campaign features prominent figures like Al Pacino and Robert De Niro, enhancing brand visibility [7] Regional Insights - China's performance remains strong, with local consumption and revenues from Chinese clusters performing well, particularly during the Golden Week, which aligned with last year's results despite global macroeconomic challenges [8]