Shares in high-end fashion group Moncler slipped by almost 6% on Friday morning as the Italian firm reported a slowdown in sales growth over the third quarter of the year.
Though the group reported a 7% increase in revenue to €669.7 million, this was far from the 24% jump seen at the half-year stage and comes as analysts tip the luxury sector may be beginning to feel the effects of wider economic uncertainty.
Moncler, which is known for its puffer jackets and for owning the Stone Island brand, attributed the slowing growth to warmer weather in September and October, alongside a worse online performance.
“We remain vigilant in light of the ongoing macroeconomic uncertainties, but at the same time confident in the solidity of our brands,” chief executive Remo Ruffini commented.
Shares fell 5.78% to €48.86.