MILAN (Reuters) - Sales at Italian luxury group Moncler rose 7% at constant exchange rates in the third quarter, meeting analyst expectations, thanks to growth in Asia and despite a decline in the Americas.
However, sales slowed in the second half of September and the "softer business" continued in the first half of October, Chief Corporate and Supply Officer Luciano Santel told a conference call with analysts, noting that it was mainly due to a tough comparison with the same period last year.
The slowdown was especially evident in the online business from mid-September, he added, saying that mild weather had not helped Moncler or other apparel businesses in September and October.
Total sales reached 670 million euros ($705 million) in the July-September period, matching an analyst consensus provided by the company.
The Moncler brand, which generates the largest part of group revenues, saw sales rise 9% at constant exchange rates, to 561 million euros, boosted by 22% growth in Asia.
The group also now includes the Stone Island streetwear brand it bought in 2021.
In the EMEA region, Moncler brand revenues grew 6% at constant exchange rates, "due to a normalisation in local consumption and a slower recovery of tourism flows compared to the first part of the year", the company said in a statement.
The decline in revenues in the Americas was mainly due to the conversion of some stores from a wholesale to a retail business model, the statement added.
($1 = 0.9500 euros)