MILAN, Aug 26 (Reuters) – The Italian fashion group Ermenegildo Zegna JN0.F raised its full-year guidance on Friday after reporting a 21% rise in half-year sales.
The New York-listed company said it now expects revenue growth in the mid-teens versus previous forecasts for low-teens revenue growth.
She also forecast a “solid improvement” in adjusted earnings before interest and taxes (EBIT), after previously speaking only of an improvement.
“While our current performance is strong, including a healthy recovery in the Greater China region, the global geopolitical and economic outlook remains uncertain,” Chairman and CEO Ermenegildo Zegna said in a statement.
“I am confident that we will remain on track as we execute on our strategy to achieve our new 2022 guidance,” he added.
The family-run group, which controls Italian luxury menswear brand Zegna and US label Thom Browne, said sales rose 21% to 729 million euros ($729 million) in the first six months of 2022 , while adjusted EBIT increased by 24% to EUR 82.7 million.
($1 = 0.9994 euros)
(Writing by Keith Weir; Editing by Jason Neely)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.