By Giulia Petroni
Shares in Moncler fell on Friday after sales growth slowed in the third quarter of the year, partly due to a tougher comparable base.
At 0743 GMT, the stock traded 5.2% lower at EUR49.17.
The Italian fashion group reported revenue of 669.7 million euros ($707.6 million) in the July-September period, 7% higher on year but notably slower compared with the first half, when it recorded a 24% growth.
Moncler, which is known for its high-end puffer jackets, cited a tougher on-year comparison and a deterioration in the performance of its online channel, particularly in the EMEA region.
“During the call, management said that global DTC [direct-to-consumer channel] momentum for Moncler has slowed since mid-September and such trend continued in October,” Stifel’s Rogerio Fujimori said in a note. He added that the company also flagged warm weather in the September-October period.
According to analysts at Jefferies, “it is inevitable that the warm weather did disrupt some markets in late 3Q and early 4Q.” Yet, more deep-rooted cyclical forces could be at play and Moncler’s status as a luxury safe haven might now be under scrutiny, they said.
Write to Giulia Petroni at giulia.petroni@wsj.com
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