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Clarins earnings

Executive Summary

Financial recovery expected in 2002 due to "resolution of logistical problems, a more ambitious marketing plan and the possibility of an upturn in consumption," French cosmetics firm says March 21. Operating profit in 2002 dropped 25.1% to $70.4 mil. (€1=$.88), and net profit plummeted 41.6% to $33.8 mil. Performance largely due to declines in American operations, which account for 22.6% of group sales, collapse of travel retail markets and transfer of manufacturing operations, Clarins says. Year-end sales, released earlier, increased 4.6% to approximately $755.2 mil. (1"The Rose Sheet" Feb. 11, 2002, p. 6)...
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