77
Fashion Jobs
BEIERSDORF
Sales Representative North Greece (Based in Thessaloniki)
Permanent · ATHENS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · THESSALONIKI
L'OREAL GROUP
Senior Product Manager Maybelline – Consumer Products Division
Permanent · NEA IONIA
CLINIQUE
Consumer Marketing Manager, Clinique
Permanent · ATHENS
LA MER
Consumer Marketing Executive, LA Mer
Permanent · ATHENS
TOM FORD
Consumer Marketing Manager Tom Ford
Permanent · ATHENS
L'OREAL GROUP
Beauty Advisor
Permanent · THESSALONIKI
L'OREAL GROUP
Nyx pm Beauty Advisor (Attiki)
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · CHALANDRI
ESTÉE LAUDER COMPANIES
Fixed Assets & Decorations Supervisor
Permanent · ATHENS
SEPHORA
Accounting
Permanent · ATHENS
SEPHORA
Category Specialist
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Mare West) - Μερική Απασχόληση
Permanent ·
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · PIRAEUS
H&M
Hiring Day Chania - Sales Advisors
Permanent · CHANIA
MAD LORDS
Sales Assistant Scorpios Mykonos
Fixed-term · MYKONOS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · MAROUSI
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Metro Mall) - Μερική Απασχόληση
Permanent · AGIOS DIMITRIOS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALAMATA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · NEA IONIA
GUESS
Sales Advisor (Greece)
Permanent · ATHENS
By
Reuters
Published
Mar 30, 2009
Reading time
2 minutes
Download
Download the article
Print
Text size

Folli 2008 net up 5.8 pct, strong Asia sales

By
Reuters
Published
Mar 30, 2009

ATHENS, March 30 (Reuters) - Greek jewellery retailer Folli Follie said on Monday March 30 that its 2008 net profit rose 5.8 percent as robust sales in Asia and an acquisition cushioned it from the world economic downturn.


Folli Follie Jewellery Spring 2009

Folli, which sells products ranging from luxury goods to apparel in Europe and Asia, reported net profit of 77 million euros for 2008, up from 73 million in the previous year.

Retailers around the world are taking a hit from slowing economies but Folli weathered the downturn as strong business in Asia, which accounts for nearly two thirds of the group's revenue, boosted 2008 sales.

Folli sells luxury goods in about 380 directly-operated stores in Europe and Asia and holds a majority stake in Greek duty-free monopoly HDFS (HDFr.AT).

Sales rose 32.7 percent to 937.3 million euros with revenues from Asia, excluding Japan, up 15 percent.

The acquisition of a majority stake in Greek apparel retailer and department stores operator Elmec (ELMr.AT) in 2007 also helped.

However, high interest expenses on a loan Folli used to buy Elmec and foreign exchange losses weighed on the bottom line.

Results were slightly below the firm's full-year targets for net profit of 78 to 80 million euros and sales of 945-950 million.

Folli shares trade about 2.5-times estimated 2008 earnings, compared with a multiple of 10.5-times for the European luxury goods sector, according to Reuters Estimates.

Analysts attribute the discount to Folli's low brand awareness and visibility compared to European peers.

The stock is down 1.0 percent since the start of the year, compared with a 6.4 percent loss for the broader Greek market .ATG.

(Reporting by Angeliki Koutantou; Editing by David Cowell)

© Thomson Reuters 2024 All rights reserved.