Italian fashion retailer Benetton Group has reported that the year ended December 31, 2015 didn’t bring much joy for the company in terms of revenue.
The clothier noted a revenue drop of 1.2 per cent to € 1,529 million in the period under consideration. However, the retailer noticed that while direct sales surged by around 6 per cent in the reporting year, indirect sales also reached gradual stabilization in both volumes and margins terms.
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In all, net loss for Benetton totalled € 46 million due to charges of € 21 million and taxes worth € 18 million. Its (consolidated) EBITDA zoomed 34.5 per cent to € 54 million in the 2015 fiscal from € 40 million in the prior year. Operating profit was € 2 million against an operating loss of € 17 million in 2014. Also, the Benetton stores, which sell knitwear products, were refurbished with the company’s ‘On Canvas’ concept. The renovation attracted more customers to the stores, resulting in 20 per cent increase in store sales.
Based in Ponzano (Italy), Benetton Group is a global fashion brand which has a network of about 6,000 stores in the main international markets around the world.
