MILAN — Bulgari SpA reined in its full-year guidance to the lower end of estimates after second-quarter earnings fell 8.8 percent, hurt by a drop in watch sales and a slowdown in the Americas and Italy.
“Given that difficult macroeconomic conditions in key markets are continuing, I believe it is both reasonable and prudent to restrict the range of the increase in our revenues…operating profit and net profit to the lower band of the guidance already given to the market,” Bulgari chief executive officer Francesco Trapani said.
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