This article has been published courtesy of: Rapaport Trade Wire
Bulgari posted a net loss of $17.9 million in the fourth quarter of 2009, compared with a profit of $6.9 million one year ago. The company previously reported that its total sales fell 5.1 percent to $409 million during the fourth quarter, with jewelry being its strongest unit. However, jewelry sales were flat at $178 million for the month.
For the full year, the net loss was $64.8 million, compared with a net profit of $114.1 million. Revenue fell across all of Bulgari’s sales units, with jewelry down 10.3 percent to $554 million.