Italian fashion group Zegna raises guidance for 2022

Ermenegildo Zegna NV

26/08/2022 12:42

MILAN, Aug 26 (Reuters) - Italian fashion group Ermenegildo
Zegna  JN0.F  raised its full-year guidance on Friday after
reporting a 21% increase in half-year revenue.
    The company, which is listed in New York, said it now 
expects revenue growth in the mid-teens in percentage terms
versus previous guidance for low-teens percentage growth.
    It also forecast a "solid improvement" in adjusted earnings
before interests and taxes (EBIT) having previously spoken only
of an improvement.
    "While our current performance is strong, including a
healthy rebound 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
our strategy to achieve our new 2022 guidance," he added.
    The family-controlled group, which controls Italy's luxury
menswear brand Zegna and U.S. label Thom Browne, said revenue
rose 21% to 729 million euros ($729 million) in the first six
months of 2022 while adjusted EBIT rose 24% to 82.7 million
euros.
    ($1 = 0.9994 euros)

 (Writing by Keith Weir; editing by Jason Neely)