Armani Returns to Profitability, Trading Above Pre-Pandemic Levels

Armani Group reported that revenues rose 26 percent to €2.02 billion last year, approaching pre-pandemic levels and meeting a €2 billion target for the brand’s rebound a year earlier than its owner and chief executive officer, Giorgio Armani, had previously forecast.

Operating profit swung to €171 million following an operating loss of €29.5 million the previous year, when the initial outbreak of Covid-19 and ensuing store closures…