Retail Division Drives Damiani Results

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.