Home / Knowledge / News / Apparel/Garments / Improvement in net financial position in 2010, Benetton
Improvement in net financial position in 2010, Benetton
01
Feb '11
The Benetton Group Board of Directors met to review key preliminary data for 2010. Complete and final results will be examined and approved by the Board at its meeting on March 15.

All comparisons of revenue with 2009 are currency neutral, unless otherwise indicated.

Revenue performance
Preliminary revenues for 2010 reached €2,053 million, compared with €2,049 million in 2009, (+0.2% at current rates, -1.9% currency neutral); this result reflects the difficult economic situation in the year just ended in some of the Group's most important reference markets, and the commitment to development in areas with the greatest growth opportunities. During the year, the strength of Group brands was confirmed, accompanied by continued support of the numerous partners with whom Benetton has worked for many years. The support received from these partners made it possible to achieve a result in line with expectations, in spite of the difficult conditions in many countries, especially in the first part of 2010.

More specifically, the Textile segment increased sales by €3 million compared with the previous year, reaching €105 million (+2.7% at current rates), while Apparel was at €1,948 million, the same as in 2009, corresponding to a currency neutral reduction of 2.1%.

In the fourth quarter of 2010, total sales were €555 million, down by €3 million (-0.6%) compared with the corresponding period of 2009.

During the fourth quarter of 2010, and in the total for the year, direct sales on a like-for-like basis continued a trend in line with the preceding nine months, with a slowdown, however, in the last part of the year, after a good start to the Fall/Winter season.

Examining revenue performance by geographical area, Europe showed a reduction of 3.3%. Challenging conditions experienced in Greece, and to a lesser extent also in Spain and Italy, contrasted with the satisfying progress achieved in Russia, which registered double-digit growth, and many of its bordering countries, as well as the good support generated by the central European area.

There was growth in all other geographical areas: Americas +5.3%, Asia +3.8%, Rest of the World +4.0%, with differing levels of performance in countries of major interest to the Group, as shown in more detail below.

In the Americas, there was strong growth in Mexico (+32.5%) and overall in South American countries, while in the USA there was a modest contraction (-1.0%), associated with the restructuring of the sales network, although on a like-for-like basis the result was up on 2009.

In Asia, there was double-digit growth in India (+12.4%), in the context of a challenging transfer of stores from direct to third-party operation, and Taiwan (+15.2%); significant progress was also made in Korea and Turkey. The Chinese area achieved significant growth on a like-for-like basis, while it was negative in terms of absolute value, due to the policy to refocus the direct network, implemented in 2009 and concluded in 2010, in the People's Republic and Hong Kong.


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search