ZGN: DTC margins improve, costs control offsets FX; 2026 outlook reaffirmed
In H1 2026, gross profit and margins rose on DTC channel growth and cost discipline, while net profit fell due to no one-time gains. Guidance for 2026 and 2027 was reaffirmed.
Gross profit and margins improved in H1 2026, driven by DTC channel growth and cost discipline, while net profit declined due to the absence of one-time gains.
Zegna segment shows strong momentum, Thom Browne is in transition, and Tom Ford Fashion is nearing breakeven.
Guidance for 2026 and 2027 is…