Moncler Sales Streak Broken by Coronavirus
Revenues declined 18% at the luxury outerwear maker to €310,108,000 ($341.5 mm) from €378,525,000 in the first quarter, after 24 quarters of double-digit top line growth, pulled down by stay-at-home orders and the closure of non-essential businesses in most of its markets. Lower traffic and store closings in all regions saw retail channel revenues down 19% to €236.3 million, but e-commerce posted positive growth. Wholesale revenues were off 15% to €73.8 million as brick-and-mortar retailers postponed deliveries to avoid overstocking, partially offset by increased sales to e-tailers. In spite of the conditions, MONC opened a net four mono-brand stores in ... Log in to view full article.