For the first time in its history of over six decades, Italian fashion retailer reported a first-half operating loss. The company’s revenues in the first half of this year ended 30 June dipped by 29 per cent to touch €403 million. Its tail sales, through distribution channels, declined by 31 per cent to €300.5 million (31 per cent down) while wholesale revenue declined by 23 per cent to €102.8 million.

Regionwise, the retailer’s sales in Europe, Middle East and Africa (EMEA) slumped by 23 per cent to touch €181.7 million, while the same in Asia and other parts of the globe fell by 27 per cent to also reach €181.7 million.

Even in Italy, Moncler’s sales declined by 39 per cent to€41.9 million. Its earnings before interests and taxes, EBIT, slumped to touch €35.5 million, compared with an operating profit of €102.6 million during the same period in 2019.