Brunello Cucinelli Reaffirms Growth and Dispels Short Seller Claims

24 days ago

Khloe Mele

"Brunello Cucinelli reported a jump in sales this morning and it also reaffirmed its targets for the year of 10% revenue growth. But perhaps more importantly, the juicier part of the news today is that it did push back against claims from a short seller. The co-CEO said the Russian business is like a candle that is burning out."

Brunello Cucinelli dispelled allegations by short seller Morpheus Research regarding operations in Russia and maintained a positive outlook by reaffirming a 10% revenue growth target. Investor confidence appears to be restored as shares recovered from prior weakness.

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