MILAN — IT Holding SpA reported a 13.1 percent drop in first-quarter earnings, but said roughly flat revenues for the period did not reflect double-digit increases in sales of the spring and summer collections.
The Italian fashion group, which owns the Gianfranco Ferré, Malo and Exte brands and operates under license the Just Cavalli and C'N'C Costume National and Galliano labels, also forecast stable revenues and profits for the first nine months of the year, following strong sales growth over the same period in 2007 and a backlog of orders for fall 2008 collections.
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