PARIS — Groupe Clarins reported its consolidated net sales fell 2.8 percent to $259.7 million at current exchange rates, or 215 million euros, in the first quarter of 2004.
The firm, whose organic growth was 2.3 percent in the period, said sales were “in line” with the budget. “However, the translation of sales by foreign subsidiaries was adversely affected by the strong euro,” Clarins explained in a statement.
By activity, the company’s beauty branch registered sales of $178.7 million, or 148 million euros, flat versus the same year-ago period. The company’s fragrance division generated sales of $80.9 million, or 67 million euros, down 8.5 percent year-on-year. At constant exchange rates, the percentage changes for the activities were an increase of 4.2 percent and a decrease of 1.4 percent, respectively.
By geographic zone, Clarins’ sales in Europe were $165.5 million, or 137 million euros, down 2.8 percent; North America, $58.1 million, or 48.1 million euros, down 5.4 percent; Asia, $21.3 million, or 17.6 million euros, up 11.4 percent, and “other countries,” $14.9 million, or 12.3 million euros, down 9 percent.
For this year, Clarins said it maintains a 5 percent growth forecast for company sales at constant exchange rates.