UK : Esprit Holdings, the fashion retailer, has revealed a 28% increase in net profit in the first half of its financial year to December 31, 2006. Profit was HK$2.4 billion, up from HK$1.87 billion in the six months to December 31, 2005. Sales increased 23.4% to HK$14.59 billion, helped by a strong performance at the company's European stores.
Avon Products, the world's largest direct seller of cosmetic and beauty products, said that fourth quarter earnings per share increased by only $0.01 to $1.41 per share from $1.40 the previous year. However, the results beat expectations and sent its shares up in value.
US-based Avon said that profit totalled $184.1 million compared with $183.2 million a year earlier. Fourth quarter revenue grew 9% to $2.6 billion compared with $2.4 billion the previous year. Avon also said its active representatives grew 5%.
Urban Outfitters, the lifestyle consumer products company that operates under the Anthropologie, Free People and Urban Outfitters brands, has announced a 13% sales increase to $360.8 million for the fourth quarter ended January 31, 2007.
Signet Group, the world's largest speciality retail jeweller, has announced a 4.2% rise in like-for-like sales for the 14 weeks to 3 February, 2007. The company said its US sales growth was adversely affected by the change in timing of a promotional event for Valentine's Day.
Source : Verdict Research,uk