This article was originally published in The Rose Sheet
Executive SummaryThird quarter net sales increase 5.1% to $184.7 mil. (€=$.91) on like-for-like currency basis despite weaker sales in September, which were "severely affected" by the Sept. 11 terrorist attacks, according to 1Clarins' sales release. As "global luxury cosmetics market offers very limited visibility," Clarins said it can no longer affirm that it will meet its sales objectives for the year. For the nine months, Clarins brand sales were up 4.6% to $357.5 mil. on like-for-like currency basis, and Azzaro sales increased 6.6% to $59.9 mil. Perfume distribution sales grew 8.8% to $55.8 mil. Sales gains reflect momentum recovery following logistics problems in the first quarter, firm says...
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