All figures are converted from the euro at current exchange rates.
By division, Clarins registered a 3.2 percent sales increase to $453.42 million. At constant group structure and exchange rates, its sales would have been up 3.7 percent. Thierry Mugler’s volume was up 9.1 percent to $141.76 million, or 8.4 percent on a like-for-like basis, and Azzaro’s was up 1.4 percent, to $81.8 million, or 0.6 percent on a like-for-like basis. Sales at Clarins’s perfume distribution division, meantime, rose 8.2 percent, to $79.71 million, or 6.7 percent, on a like-for-like basis.
Clarins explained in a release that last year had three distinct periods, starting with the first quarter, when a logistics operations transfer to Amiens, France, caused deliveries to be temporarily slowed and sales rose only by 3.1 percent. From April to August 2001, the company made up lost ground and the resulting consolidated sales for the first eight months of 2001 were up 8.3 percent year-on-year. Then, following Sept. 11, there was a “significant” impact on the group’s markets, which resulted in a 1.3 percent decline in sales in the last four months versus those in 2000.
The firm said business picked up by 18.1 percent in December.
“In the interest of promoting long-term development, the group has not scaled down its investment in marketing activities,” Clarins said. “As a consequence, the group’s margins for the fiscal year ended 2001 will be below the record level of 2000.”
Audited results for last year will be published on March 21.