To begin with, Goldman Sachs financial analysts made supporting forecast, as they upgraded their rating on the company. More specifically, they changed it from neutral up to buy, therefore driving an increase in the price of the company’s stocks. In addition, they made public the excellent business performance achieved in the first nine months of 2019. Brunello Cucinelli are doing fine. They are on fire actually.
Hong Kong situation has not affected the business
At the end of the period from January to September, Brunello Cucinelli’s net revenues amounted to 459.2 million euros: that is, +8.8% at current rates of exchange and +7.7% at fixed rates of exchange. For the records, the Hong Kong situation has not been affecting such good trend apparently. Sales in China account for 9.5% of global turnover, while increasing by 14.4%. Likewise, Italian market has been going through a positive business trend: +2.2%. As regards exports, they have been booming: +10.2%.
An “excellent year”
2019 is proving to be, for Brunello Cucinelli, an “excellent year both in terms of figures and regarding the brand’s image as well”. The luxury Umbrian entrepreneur, “an even-tempered and polite man”, expects the company’s revenues to “enjoy a rewarding boost, around 9%, alongside a sound increase in profits by the end of the year”. 2020 is going to be a positive year as well: “We are considering the way luxury made in Italy ready-to-wear is currently changing in the market worldwide. On top of that, orders for Spring-Summer 2020 turn out to be extremely remarkable. That is why we expect both our overall earnings and our profits to enjoy a positive boost throughout next year as well”. “In line with our ten-year-long strategic plan”, remarked Cucinelli.
Deliveries are going up
While issuing a press release, Cucinelli highlighted an “outstanding increase” in deliveries for Spring-Summer 2020 women’s collections. Likewise, orders for 2019 winter collections proved very rewarding as to sell-out results, achieved in the last few weeks. As well, the company is very happy about collections for men and kids, whose deliveries turn out to be rather satisfying.
Picture taken from Imagoeconomica