MILAN (Reuters) - Revenues at Italian luxury outwear maker Moncler fell 3% at constant exchange rates in the third quarter, slightly more than analysts had anticipated, with weakness spread across all its main markets.
Luxury groups have been struggling with weaker consumer spending in recent quarters, especially in China. Kering last week reported a larger than expected 16% drop in quarterly sales on a comparable basis.
Total revenues at the Milan-based group, known for its puffer jackets, totalled 635.5 million euros ($686 million) in the July-September period, against a company-provided 645 million euros analyst consensus forecast.
($1 = 0.9263 euros)
(Reporting by Elisa Anzolin; Writing by Valentina Za, editing by Cristina Carlevaro)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.