Rinascente sales rise 8.1%

Eurofood,  May 20, 1999  

• E-mail
• Print
• Link

Italian retailer Rinascente has reported turnover up 8.1% in 1998 to Lit8 724bn (??4.5bn), generating net profits up 10% to Lit1 10.5bn. First quarter results for the year in progress show that Rinascente, which entered into a joint venture with French hypermarket group Auchan last year, has continued to perform well.

Sales rose approximately 23.9% to Lit2 322bn in the first three months of 1999, although extraordinary charges depressed net profits, which declined from Lit51.9bn to Lit3.8bn.

COPYRIGHT 1999 Agra Europe Ltd.
COPYRIGHT 2000 Gale Group