Stock Market News
Armani sales up 18% in Q1 as Asia rebounds, U.S. slows down
2023.05.25 06:40
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© Reuters. Models present creations by designer Giorgio Armani as part of his Haute Couture Spring/Summer 2023 collection show for fashion house Giorgio Armani Prive in Paris, France, January 24, 2023. REUTERS/Sarah Meyssonnier
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© Reuters. Models present creations by designer Giorgio Armani as part of his Haute Couture Spring/Summer 2023 collection show for fashion house Giorgio Armani Prive in Paris, France, January 24, 2023. REUTERS/Sarah Meyssonnier
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MILAN (Reuters) – Italy’s Armani said on Thursday that sales jumped 18% in the first quarter thanks to a rebound in Asia and more modest growth in the United States, where a slowdown is expected in the coming months.
The privately-owned luxury group added that its 2022 full year revenues were up 16.5%, boosted by sales in Europe and the United States, to 2.35 billion euros ($2.59 billion).
The Milan-based group’s operating profit rose 30% in 2022, to 202.5 million euros.
