MILAN — Jil Sander Group narrowed its net loss in the first half of its fiscal year and increased its sales by slightly more than 3 percent.
Prada Holding-controlled Jil Sander said net losses totaled 9.7 million euros, or $12.3 million, for the six months ended July 31. Revenue for the period rose 3.1 percent to 69.8 million euros, or $88.6 million. (Figures have been converted from the euro at average exchange rates for the period to which they refer.)
Prada and its subsidiaries recently shifted their fiscal years to end in January. The company was not able to provide a directly comparable loss figure for the February to July period. Losses from January through July 2004 were 15.3 million euros, or $18.8 million.
Jil Sander was able to extrapolate directly comparable sales figures. Revenues in the six months running February through July 2004 were 67.7 million euros, or $82.6 million.
“The Jil Sander Group restructuring plan, which management started to implement in early 2005, continues into the second half of the year,” the company said in a brief statement. “The plan will lead to cost savings in manufacturing and logistics for the year in course. The full benefit of the restructuring plan is expected to impact the net result in the next fiscal year.”
Prada declined further comment on the figures.
In May, Prada appointed Belgian designer Raf Simons as creative director of Jil Sander. His debut season will be fall 2006. The spring collection to be presented in Milan later this month was crafted by a design team. Jil Sander left her namesake label for the second time in November of last year.