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Industry: Email Alert RSS FeedBALANCE SHEET; WINNERS AND LOSERS ON THE FISCAL BATTLEFIELD.(Giorgio Armani S.p.A.)
Daily News Record, October, 2005 by Kaiser, Amanda; Zaczkiewicz, Arthur
Byline: Arthur Zaczkiewicz and Amanda Kaiser
Never underestimate the power of a strong brand in a global market. Take Giorgio Armani SpA, for example. Last week the design house reported double-digit profit growth in the first half, and wholesale orders for spring 2006 are already up by at least 5 percent. Armani posted first-half figures showing a 10 percent jump in earnings before interest and taxes to 97 million euros, or $125.1 million. Revenues for the six months ended June 30 advanced 8 percent to 697 million euros, or $899.1 million. The company said sales would have grown 10 percent at constant exchange rates. Dollar figures have been converted from the euro at average exchange rates for the period to which they refer. "I am particularly pleased with...
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