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 s…