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Stefanel brand Q3 net sales rise 5.2%

22 Dec '07

3 min read

Hallhuber has reported another big improvement in its operating performance thanks to the decision to upgrade its distribution network and product range. The results of the Spring/Summer 2007 collection and the figures currently available for the winter collection confirm the benefits of this decision.

The third quarter has seen the airport retail business unit carry on the positive trend starting in recent months, benefiting not only from improved management, but also from the termination of activities in the airports of Copenhagen (Denmark) and Vancouver (Canada) which had so heavily affected past performance.

After winning a new concession in India, Nuance has managed during the first nine months of 2007 to renew and extend the important concessions expiring at the Turkish airport of Antalya and at Singapore Changi Airport and to extend the concession to operate at Calgary International Airport for another seven years.

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Giuseppe Stefanel, Chairman of the Stefanel Group, declared: "The third-quarter results reveal the first signs of improvement in the Stefanel brand's sales performance which above all relates to the Italian market in which we are concentrating the first phase of brand repositioning. Hallhuber has confirmed once again this quarter the effectiveness of the turnaround plans, while Interfashion has achieved good results with the first collection of the new brand High.

Thanks to the important steps starting in recent years to optimize concessions and the improvements in operational management, Nuance is also showing the expected signs of improvement. We shall continue to work on turning around performance in those regions, like Australia, New Zealand or Sweden, which are still problematic, as well as on obtaining new concessions in strategic areas such as India and China.

I expect the current positive trend to continue for all the business units and therefore confirm the forecast of a positive set of results for 2007, substantially in line with last year".

Stefanel S.p.A

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