Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Benetton sales growth slows

Benetton’s sales growth slowed in the fourth quarter, rising just 2.9%, prompting the Italian fashion chain to warn of a tough year ahead.

For the full year 2008, Benetton’s sales rose 4% to €2.12 billion (£1.9bn). Net income was up 7% to €155 million (£137.7m). EBITDA was €353 million (£313.7m), up 5.1% and operating profit was up 4.7% to €254 million (£225.7m)..

However, Benetton predicted a tough year ahead.

Benetton chief executive Gerolamo Caccia Dominioni said: “The situation in 2009 will be difficult for everyone and this was made quite clear by trends in the fourth quarter of the year just ended. The group occupies a distinctive positioning for product quality, with affordable prices, a widespread and flexible distribution model, based on a network of first-rate sales partners, and proven financial strength.”

He added that the company would strengthen its relationships with retail partners and stockists and control costs at the business.

Benetton said the results for 2008 were in line with its objectives, despite a deteriorating international economic situation, which had the biggest impact in the final quarter.

Benetton added that improvements in the supply chain carried out over the period had helped accelerate growth in Russia, India and Turkey.

The supply chain improvements also benefited margins at the company.




Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.