# Armani revenues up 20% in H1 after 2021 recovery
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-07-20
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Armani reports 20% growth in sales, surpassing pre-pandemic
Meta Description: Italian luxury goods group Armani saw a 20% sales uptick, returned to profit in 2021, with revenues surpassing 2019 levels, despite potential economic risks.
URL: https://financedigest.com/armani-revenues-up-20-in-h1-after-2021-recoveryhtml

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MILAN (Reuters) – Italian luxury goods group Armani posted a 20% increase in sales at constant currencies in the first half, after swinging to an operating profit in 2021 as revenues returned above pre-pandemic levels in the second part of the year.

Revenues “now constantly exceed the levels achieved in 2019, thus setting the stage for a substantial improvement in operating profitability — subject to certain potential risks,” the group said in a note citing a possible economic recession caused by the Ukraine war, new COVID-19 waves and restrictive monetary policies to fight inflation.

Armani said consolidated net revenue last year totalled 2.02 billion euros ($2.1 billion), up 26.3% from 2020. Sales at directly-operated shops, which [account for more than half](https://www.financedigest.com/half-of-employees-aged-40-and-over-in-the-accounting-banking-and-finance-industries-think-they-will-have-to-work-longer-to-live-the-life-they-want.html "Half Of Employees Aged 40 And Over In The Accounting, Banking And Finance Industries Think They Will Have To Work Longer To Live The Life They Want") the total, grew by 37% over 2020.

The Milan-based group posted earnings before interest and tax (EBIT) of 171.2 [million euros](https://www.financedigest.com/amazon-grants-1-5-million-euros-to-dutch-seaweed-farm-project.html "Amazon grants 1.5 million euros to Dutch seaweed farm project"), versus an operating loss of 29.5 million euros in 2020.

The remarkable growth achieved in 2021, consolidated by the positive performance in the first half of this year, makes me cautiously optimistic,” said Giorgio Armani, chairman and [CEO of the group](https://www.financedigest.com/shareholder-group-iss-backs-barclays-board-over-former-ceo-staley.html "Shareholder group ISS backs Barclays board over former CEO Staley").

($1 = 0.9775 euros)

(Reporting by Valentina Za, Editing by Louise Heavens)


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