MILAN — Benetton Group SpA said Tuesday that earnings rose 7 percent in 2008, despite a slowdown in fourth-quarter revenues, and that it planned “radical actions” to ease mounting pressures on margins, including closing a factory near Turin.
For the 12 months through Dec. 31, the Italian clothing retailer reported unaudited net profits of 155 million euros, or $228.1 million, on revenues that gained 4 percent to 2.13 billion euros, or $3.13 billion. Earnings before interest, taxes, depreciation and amortization increased 5.1 percent to 353 million euros, or $519.4 million, or 16.6 percent of revenues. The figures were in line with forecasts and a dividend is expected.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)