Bulgari Sees Sluggish Profit Growth, Hindered by Currency, Japanese Market
MILAN — Bulgari SpA saw slowing growth in the fourth quarter as it battled currency woes, tough comps and weakness in the Japanese market. But the company said it’s on track to post profit and sales growth for the current year....
MILAN — Bulgari SpA saw slowing growth in the fourth quarter as it battled currency woes, tough comps and weakness in the Japanese market. But the company said it’s on track to post profit and sales growth for the current year.
Bulgari’s fourth-quarter sales rose four percent to 323.6 million euros, or $417.44 million, lower than some analysts’ forecasts. For the year ended Dec. 31, 2006, sales rose 10 percent to 1.01 billion euros, or $1.27 billion. (Dollar figures have been converted from the euro at average exchange rates for the period to which they refer.)
Meanwhile, the jeweler announced that it will launch a women’s skincare line this year. Distribution will start in Italy this fall and will be rolled out to other countries over the coming years.
For complete coverage see tomorrow's issue of WWD.
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