The Benetton Group posted net revenues for €457 million, up 1.8% for the 1st quarter of 2010.
Gross operating profit for the quarter grew, reaching €216 million (€205 million in the corresponding period of 2009), equivalent to 47.1% of revenues (45.5% in the comparative period).
Established markets showed a reduction in sales of 1.5%, with the Italian market substantially maintaining its position, and despite the slow-down in the Spanish and Greek markets; this contrasted with a better performance in continental Europe.
Emerging markets had a growth of 19%, particularly in India where, having achieved a good presence in all the major cities in the country, the Group now aims to open new stores also in second and third tier cities. Russia achieved positive results due to targeted actions to support the network. The refocusing of the existing network of stores in China was completed, and good growth was achieved on a like-for-like basis, following the coordinated action on product mix and the depth of the offer. In Mexico, sales continued to grow in the quarter, with specific focus on store attractiveness.
Overall, the Spring/Summer orders collection is drawing to a close in line with expectations, with a slight fall compared with Spring/Summer 2009. Within the collections, the best result was achieved by the children’s line, also due to the new offerings for young teenagers.
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