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Bulgari reports 3Q sales growth in jewelry, watches

November 17, 2006

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Rome—Jewelry sales increased 9.7 percent and watch sales increased 14.8 percent for the third quarter at Bulgari Group.

Year-to-date sales for the company increased 10.2 percent in jewelry and 17.3 percent in watches. Overall Bulgari sales in the Americas grew 30.1 percent for the quarter and 16.8 percent for the first nine months of the year.

In other categories, perfumes also performed well for the company, increasing 19.3 percent for the quarter and 15.1 percent year-to-date.

Sales in the accessories category dropped 16.4 percent to $23 million for the quarter, but increased 16.7 percent year-to-date. The company attributed decreased sales for the quarter to higher-than-expected sales over the past year, which created production capacity problems that Bulgari has already corrected. The production issues caused a reduction in deliveries to third-party distributors, but accessory sales in Bulgari-owned stores continued to grow, the company said.

The company's net profit across all divisions increased 29.4 percent for the third quarter to $43.7 million.
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