Revenues at Zegna drop 5% in Q1, dragged by Thom Browne brand [Reuters]
Ermenegildo Zegna N.V. (ZGN)
Company Research
Source: Reuters
, opens new tab posted on Tuesday a 5.3% drop in first quarter organic revenues - which exclude Tom Ford Fashion - mainly due to the Thom Browne brand's declining sales. The Italian family-owned group said the 35% fall in Thom Browne's sales was driven by lower-than-expected revenues in the Greater China region and the streamlining of the company's overall wholesale business. Including the Tom Ford Fashion, which Ermenegildo Zegna bought last year, revenues in the January-March period totalled 463 million euros ($493 million). "Looking at the rest of the year, we have a clear and defined path in front of us. I am confident that we are taking the right actions to make our brands even stronger and to deliver on our medium-term ambitions", Chairman and CEO Gildo Zegna said in a statement. ($1 = 0.9386 euros) The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. Reporting by Elisa Anzolin, editing by Giulia Segreti Our Standar
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News
- Ermenegildo Zegna Group Reported Q1 2024 Revenues of €463 Million1, up 8%2 YoY, Driven by Zegna Brand and the Integration of Tom Ford Fashion [Yahoo! Finance]Yahoo! Finance
- Ermenegildo Zegna Group Reported Q1 2024 Revenues of €463 Million¹, up 8%² YoY, Driven by Zegna Brand and the Integration of Tom Ford FashionBusiness Wire
- Armani 'Doesn't Rule Out' Merger or IPO In Succession Plan [Yahoo! Finance]Yahoo! Finance
- Armani 'Doesn't Rule Out' Merger or IPO In Succession Plan [BNN Bloomberg (Canada)]BNN Bloomberg
- Ermenegildo Zegna: Unjustified Sell-Off (Rating Upgrade) [Seeking Alpha]Seeking Alpha
ZGN
Sec Filings
- 4/23/24 - Form 6-K
- 4/15/24 - Form 6-K
- 4/9/24 - Form 144
- ZGN's page on the SEC website