Italy's Zegna Q3 revenue rises on DTC growth

By Reuters News


Overview

  • Italy luxury menswear group's Q3 2026 revenue rose 8.9% yr/yr to €433.8 mln

  • Company's direct-to-consumer channel grew 13% yr/yr, led by ZEGNA brand

  • Thom Browne brand revenue declined 5.9% yr/yr due to weaker demand and wholesale streamlining


Outlook

  • Company says it looks ahead with cautious confidence amid ongoing global uncertainty

  • Company notes industry slowdown in Greater China Region but expects brand to remain solid

  • Company expects Americas to continue outperforming, though comparison base is becoming more demanding


Result Drivers

  • DTC CHANNEL - Co said direct-to-consumer sales, led by ZEGNA, drove Q3 growth

  • AMERICAS AND CHINA - Double-digit growth in Americas and steady growth in Greater China contributed to Q3 results

  • THOM BROWNE DECLINE - Q3 revenue for Thom Browne fell due to weaker demand in Greater China and wholesale channel streamlining


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

EUR 433.80 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the apparel & accessories peer group is "buy"

  • Wall Street's median 12-month price target for Ermenegildo Zegna NV is $15.00, about 16.1% above its October 21 closing price of $12.92

  • The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 24 three months ago


Reuters Recommended Reads

  • Oct 20 - France's EssilorLuxottica Q3 revenue rises on wearables, myopia management portfolio growth

  • Oct 22 - France's SMCP Q3 sales fall on weak demand

  • Oct 20 - Adidas prelim Q3 operating profit rises as full-price sales support gross margin gains


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.