The Italian jeweler Bulgari announced Thursday that he had returned to profit in the third quarter and expects the period October to December is the best of its fiscal year, sales in its own outlets rose in October.
The company based in Rome has reported a net profit of EUR 7 million when it posted a net loss of 11.2 million in the second quarter. Over the period from July to September, sales emerged at 233.2 million euros, down 9% from last year. All categories of products were affected but to a lesser extent than in previous quarters. The group said that a gradual improvement in all markets around the world continued in the current quarter. “October has shown an improvement,” said Thursday, November 12 Reuters in a telephone interview the managing director Francesco Trapani. “We expect the fourth quarter was the best year in terms of turnover and profitability.”
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Francesco Trapani said that constant exchange rates and excluding sales of high-end, sales at stores Bulgari themselves had fallen 15% in the first quarter from 10% in the second and 3% in the third. He however said: “They have increased by over 10% in October. Francesco Trapani also anticipates sales of Christmas better than last year.
The shares closed up 1.27% to 5.99 euros before being published these results.
Marie-Louise Gumuchian and Cristina Carlevaro, French version BOKSENBAUM-Alexandre Granier
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Tags: Bulgari, Cristina Carlevaro, Francesco Trapani, Italian jeweler Bulgari, Marie-Louise Gumuchian, Q3