Benetton's going up E-mail
Friday, 16 May 2008
The first quarter results of fashion brand Benetton went up with 3,4% to 465 million. Its net income rises to 29 million euro with +8.6%. So far the fashion group’s results are in line with their full year forecast. The growth of the first quarter was influenced by new delivery schedules for the spring and summer collections, developed to take advantage of new business opportunities in a market in which styles and trends change ever more quickly. Unfortunately, due to the conversion of some USA stores from wholesale to retail to redefine the presence of its brands, a the lack of spring/summer invoicing influenced Benetton’s first Q.


According to Benetton’s published results without naming any numbers, all market’s growth was in line with the expectations for the full year. Italy showed positive influenced by the new scheduling of the collections, and also the UK, France, and Greece showed significant rates of growth. The five priority markets for Group growth (India, Turkey, Countries of the former Soviet Union, Central and South America, and China) had a quarterly performance in line with the three-year development targets, which anticipate the doubling of sales.

For the 2008 financial year, Benetton expect a growth from 6 to *% on a like for like basis, a capital expenditure of around 250 million euro and indebtedness of around 650 million euro.


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