MILAN (Reuters) -Italian luxury company Brunello Cucinelli reaffirmed on Wednesday that it operated in Russia in full compliance with EU regulations, as it posted a 12% increase in revenues in the third quarter, to 336 million euros ($394 million). Shares in the cashmere group have been under pressure after a short-seller last week accused the company of misleading investors about its Russian business, an allegation it has denied. The group said that Russia accounted for 1.4% of its revenues at the end of September, down from 2.7% a year earlier. It added that its inventory is "appropriate and balanced". The group, the first in the European luxury industry to provide an update on the latest quarter, confirmed its expectations for revenues to increase by around 10% in 2025 and 2026. ($1 = 0.8523 euros) (Reporting by Elisa AnzolinEditing by Keith Weir)
(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
Berlin (dpa) - A new form of online radicalization is causing serious concern among security…
Berlin (dpa) - We definitely need magnesium. The essential mineral is involved in more than…
Berlin (dpa) – Flowering plants bring colour to flowerbeds, pots and window boxes, adding bright…
Parents can help youngsters regain their motivation by creating successes. Making their progress visible will…
Berlin (dpa) – Bread and baked goods top the list of food items we wind…
Check out these tips to get the best out of your air fryer, from how…