Retail Division Drives Damiani Sales

RAPAPORT Sales rose at Italian jeweler Damiani Group during the past fiscal year as retail growth offset a decline in its wholesale business. Total revenue increased 1.6% to $192.6 million (EUR 164.1 million) in the 12 months ending March 31, the company reported Retail sales climbed 13% to $101.4 million (EUR 86.4 million), accounting for 53% of total sales, while wholesale revenue dropped 9% to $91.2 million (EUR 77.7 million). Damiani’s net loss narrowed to $4.7 million (EUR 4 million) from $6.4 million (EUR 5.5 million) a year earlier. The group operated 63 stores around the world as of March 31. . Source