Brunello Cucinelli Anticipates Good Profit as 2023 Revenue Increases

Italian luxury-fashion company, Brunello Cucinelli, has reported an increase in preliminary 2023 revenue and expects a favorable profit for the year. The company's total revenue for the year reached €1.14 billion ($1.25 billion), compared to €919.5 million in the previous year, marking a 24% increase at current exchange rates.

In the fourth quarter, Brunello Cucinelli recorded a revenue of €321 million, a 16% rise compared to the same period last year. Analysts had predicted full-year revenue of €1.129 billion, according to estimates compiled by FactSet.

Europe was the major contributor to the company's revenue, generating €428.1 million, a 17% increase. The retail channel accounted for the largest part of revenue, with €746.66 million and a sales weight of 65.5%.

Brunello Cucinelli expressed optimism about the upcoming months, stating, "The opening of sales for Spring-Summer 2024 is very positive and follows an impressive order intake, enabling us to look ahead to a very interesting first half of the year."

The company reaffirmed its guidance for the entire year and expects sales to grow by approximately 10%, along with promising margins and profits. Additionally, they anticipate a 10% increase in turnover for the year 2025.

Financial Health: A New Year's Resolution

The Impact of the Emergency Landing of an Alaska Airlines 737 MAX 9 Flight

Leave A Reply

Your email address will not be published. Required fields are marked *

Related posts

U.K. Stock Market Report
News

U.K. Stock Market Report

The U.K. stock market finished flat, with the FTSE 100 Index closing at 7,417.76. Get insights on the day's top gainers...

Thai Shares Show Modest Gain
News

Thai Shares Show Modest Gain

The Thai stock market showed a modest gain, with top gainers and losers in the technology sector. Updates on other South...

The Importance of Estate Planning
News

The Importance of Estate Planning

Over half of Americans have experienced family conflicts after a loved one's death due to the absence of estate planning...

Nanoco Group Reports Doubling of Revenue in Fiscal 2023
News

Nanoco Group Reports Doubling of Revenue in Fiscal 2023

Nanoco Group reports that its revenue for fiscal 2023 more than doubled compared to the previous year, driven by a settl...