WWD.com/fashion-news/intimates-activewear/benetton-confirms-guidance-for-2008-1599667/

MILAN — Benetton Group SpA said Wednesday that preliminary estimates of first-half revenues indicated growth of around 5 percent at constant exchange and confirmed its guidance for 2008.

This story first appeared in the July 10, 2008 issue of WWD.  Subscribe Today.

The six-month result accounts for the new delivery calendar for collections and a temporary delay in the shipment and invoicing in the second quarter of this year, Benetton said.

The company gave no other details.

In the first half of 2007, the Italian clothing retailer reported consolidated revenues of 990 million euros, or $1.3 billion at average exchange.

Benetton said in February and May that it expected full-year sales growth to slow to between 6 and 8 percent on a like-for-like basis as a result of the difficult trading climate. Net profits and earnings before interest, taxes, depreciation and amortization are forecast to increase more than 7 percent.

In May, the group inked a deal with Sears Mexico as part of its drive to boost its business in emerging markets. Benetton sees significant potential in India, China, the former Soviet Union, Turkey and Latin America and expects to triple sales there to 300 million euros, or $471 million at current exchange, over the next three years.