Damiani sees recovery signs before Xmas

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Damiani sees recovery signs before Xmas

November 26, 2009 – Italian luxury jeweller Damiani has noted signs of recovery and is confident about the outlook for the festive season.
Damiani, which promotes its jewellery with Hollywood stars such as Sharon Stone, reported a net loss for its first half ending September 30 of 9.6 million euros, compared with a profit of 1.8 million a year ago.
“Despite the continuing uncertain macroeconomic environment, I am satisfied with the actions…to reinforce our presence in markets, segments and channels which are important for our future development,” Guido Damiani, chairman and chief executive, said in a statement.
“All the above together with a constant attention to further rationalise our production costs and the first signals of recovery in demand registered in October, make me confident for the coming Christmas season.”