By Sabela OjeaShares of Ermenegildo Zegna rose Wednesday after the Italian fashion house reported a big jump in revenue in the latest quarter, boosted by its presence in the U.S. and a rebound in China. The luxury goods company reported revenue for the fourth quarter of 125 million euros ($135.6 million) in the U.S., rising about 63% over the prior year. The company continues to be encouraged by the growth in the U.S., despite the volatile consumer environment it is seeing in the country, Ermenegildo Zegna said. The rebound seen in Greater China region led to revenue of EUR176 million in the fourth quarter, with an increase of 35% year-over-year, the company added. Overall, Ermenegildo Zegna posted fourth-quarter revenue growth of 40% to EUR570 million.

Source: Wall Street Journal February 01, 2024 06:49 UTC