Why Ermenegildo Zegna Stock Was Falling Today [Yahoo! Finance]
Ermenegildo Zegna N.V. (ZGN)
Company Research
Source: Yahoo! Finance
As of 1:55 p.m. ET, the stock was down 14.5%. Zegna comes up short The Milan-based fashion label said that revenue in 2023 jumped 27.6% to 1.9 billion euros ($2.06 billion) with organic growth up 19.3%. Estimates were not available for comparison, but the company delivered solid gross-margin expansion as well, with gross margin up 62.2% to 64.3%. Overall, the results were strong for the year, and the company had already reported full-year revenues as is customary for European companies. However, operating margin and operating profit both lagged in the second half of the year, even though the fourth quarter tends to be the seasonally strongest in the fashion industry. The company reported an operating profit of 116.5 million euros ($126.37 million) in the first half of the year but just 92.6 million ($100.36 million) in the second half even though it brought in more revenue in the second half. Similarly, its operating margin in the second half of the year was just 9%, comp
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News
- Revenues at Zegna drop 5% in Q1, dragged by Thom Browne brand [Reuters]Reuters
- 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
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