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Retail Division Drives Damiani Results

Jul 10, 2018 9:02 AM   By Rapaport News
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RAPAPORT... Sales rose at Italian jeweler Damiani Group during the past fiscal year as retail growth offset a decline in its wholesale business.

Total revenue increased 1.6% to $192.6 million (EUR 164.1 million) in the 12 months ending March 31, the company reported. Retail sales climbed 13% to $101.4 million (EUR 86.4 million), accounting for 53% of total sales, while wholesale revenue dropped 9% to $91.2 million (EUR 77.7 million).

Damiani’s net loss narrowed to $4.7 million (EUR 4 million) from $6.4 million (EUR 5.5 million) a year earlier.

The group operated 63 stores around the world as of March 31.
Tags: damiani, Damiani Group, Rapaport News
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