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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"