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Armani sales up 18% in Q1 as Asia rebounds, U.S. slows down
Global Banking & Finance Review®
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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.
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.
(Reporting by Elisa Anzolin, editing by Alvise Armellini)
Retail trade involves the sale of goods and services to consumers. It includes various sectors such as clothing, electronics, and food, and is a crucial component of the economy.
The luxury market refers to the segment of the economy that sells high-end goods and services, often characterized by premium pricing and exclusivity, appealing to affluent consumers.
Corporate profits are the earnings a company generates after deducting all expenses, taxes, and costs. They are a key indicator of a company's financial success and operational efficiency.
Operating profit is the income generated from a company's core business operations, excluding costs associated with non-operational activities like interest and taxes. It reflects the efficiency of the business.
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