By  on September 8, 2009

MILAN — The international financial crisis and heavy investment hurt Giorgio Armani SpA’s bottom line in 2008, and it is expected to see a further decline this year.

The company reported a 41.4 percent drop in net profits last year, to 128.1 million euros, or $188.3 million, from 218.7 million euros, or $299.6 million, the previous year. Consolidated revenues in 2008 rose 1.5 percent to 1.62 billion euros, or $2.38 billion. At constant exchange, the sales increase stood at 2.4 percent.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus