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Home News Armani sales up 18% in Q1 as Asia rebounds, U.S. slows down

Armani sales up 18% in Q1 as Asia rebounds, U.S. slows down

by Uma Rajagopal
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2023 05 25T102034Z 1 LYNXMPEJ4O0CP RTROPTP 4 FASHION PARIS HAUTECOUTURE ARMANI

Armani sales up 18% in Q1 as Asia rebounds, U.S. slows down

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)

 

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Uma Rajagopal

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.