Clarins earnings
This article was originally published in The Rose Sheet
Executive Summary
Strong launch schedule, including introduction of ClarinsMen skin care and Hugo Boss Boss In Motion fragrance in second half of the year, expected to improve French firm's financial performance by year end, Clarins says. Consolidated sales in first six months were up 2.8% to $426.1 mil. (1"The Rose Sheet" Aug. 13, 2001, In Brief). However, operating profit plunged 41.2% to $28.5 mil. (€1=$.97) and net profit dropped 22.9% to $18.7 mil., company announces in a 2first-half earnings report Sept. 12. Operating profit declines were attributed to losses recorded by Thierry Mugler couture and perfume distribution, rising production costs and selling expenses and weak sales of the Clarins brand in May and June...