MILAN (Reuters) -Italian luxury outerwear group Moncler reported on Wednesday a 1% decline at constant exchange rates in second quarter revenues, with its key eponymous brand affected by a decline in tourist spending in Europe and Japan.
For the Moncler brand, sales in Asia slowed compared with the first quarter and were flat, mostly due to softer tourist flows in Japan, the group said.
Revenues in the Europe and Middle East region were down 8%, while sales in the Americas remained positive.
Half-year consolidated revenues totalled 1.23 billion euros ($1.41 billion), broadly in line with a company-provided consensus.
The first half operating profit declined 13% to 225 million euros, still slightly above analysts expectations, with marketing expenses weighted towards that period.
“Entering the second half of 2025, uncertainty in the global geopolitical and economic landscape remains elevated,” Moncler said in a statement.
“The group continues to prioritise operational agility, while steadily investing in its organisation, talent, and distinctive brands,” it added.
The Stone Island clothing brand is also part of the group.
The luxury industry is experiencing a prolonged downturn, which has been compounded by the uncertainty unleashed by U.S. President Donald Trump’s trade war.
Luxury heavyweights LVMH and Kering are expected to report another drop in quarterly sales this month.
($1 = 0.8529 euros)
(Reporting by Elisa AnzolinEditing by Keith Weir)
