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Cucinelli raises sales growth forecast for 2023

Reuters
·1-min read
Brunello Cucinelli label is seen on a shirt at the factory in Solomeo village near Perugia

(Reuters) - Italian luxury group Brunello Cucinelli on Wednesday raised its sales growth guidance for 2023 to 15%, up from its previous estimate of 12%, on the back of a strong start to the year and significant orders for coming seasons.

The brand known for cashmere clothing posted earnings before interest and taxes (EBIT) at 134.4 million euros ($141.6 million), above a 133.0 million euros analyst forecast based on a SmartEstimates consensus provided by Refinitiv.

Brunello Cucinelli proposed the distribution of a dividend of 0.65 euros per share. ($1 = 0.9490 euros)

(Reporting by Romolo Tosiani; Editing by Keith Weir)