Bulgari has Returned : Profit in Q3

admin — Sat, 14 Nov 2009 05:56:30 +0000

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.”

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

Declining Sales of LVMH Slows in Q3

admin — Wed, 21 Oct 2009 04:27:55 +0000

LVMH announces a turnover in nine months, down 6%, in line with analysts’ expectations, with a decline, however, limited to 3% in the third quarter on an organic basis, while a decrease of 6% was expected.

The world of luxury has seen its sales total $ 11.959 million euros over nine months, little changed as reported and down 6% excluding currency fluctuations, in line with the consensus reached by the editor of Reuters (11.921 million euros).

In the third quarter alone, they reached 4.135 million (4130 million Reuters consensus) but have limited their decline to 3% on an organic basis, following declines of 7% in the first and second quarters, and while analysts were anticipating a decline 6%.

LVMH said this development through continued stocking distributors and believes that the third quarter marks a “trend of improvement relative to the start of the year.

The group, which does not provide forecasts for the whole financial year, says that in a “still marked by the crisis in many parts of the world”, it will continue its strategy to “further strengthen its lead in the market World of Luxury. “

MAR Magazine » Q3

Bulgari has Returned : Profit in Q3

Declining Sales of LVMH Slows in Q3