MILAN — The retail environment may be getting tougher, but Italy's Gruppo Coin SpA has reason for optimism after registering a 322 percent jump in earnings in 2007.
The group, which operates the Coin and Oviesse department stores, on Tuesday reported that net profits for the 12 months through Jan. 31 increased to 43.5 million euros, or $59.6 million, compared with 10.3 million euros, or $12.9 million, in the same period a year earlier, after updating its retail formats and logistics processes and lowering sourcing costs.
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