×
75 408
Fashion Jobs
NORDSTROM
Retail Stock & Fulfillment - Ross Park
Permanent · Pittsburgh
NORDSTROM
Retail Stock - Cascade Station Rack
Permanent · Portland
GAP
General Manager - Chicago Premium
Permanent · Aurora
MACY'S
Asset Protection Security Guard, Mall at Prince Georges - Standard Part Time
Permanent · Hyattsville
MACY'S
Asset Protection Detective, Fayette Mall - Full Time
Permanent · Lexington
MACY'S
Asset Protection Detective, Wheaton Plaza - Standard Part Time
Permanent · Wheaton-Glenmont
MACY'S
Asset Protection Detective, Streets of South Point - Standard Part Time
Permanent · Durham
MACY'S
Asset Protection Detective, Queens Center - Full Time
Permanent · New York
MACY'S
Manager, Merchandise Execution
Permanent · Manassas
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Dadeland
Permanent · Miami
ROSS STORES
Finance Manager (Logistics)
Permanent · Fort Mill
ROSS STORES
Store Protection Specialist
Permanent · Land O' Lakes
ROSS STORES
Senior Manager, HR Program Delivery
Permanent · Dublin
ROSS STORES
Director, Loss Prevention Regional (Lprd)
Permanent · Palm Beach Gardens
ROSS STORES
Store Protection Specialist
Permanent · Audubon
ASCENA
Part Time Sales Manager
Permanent · Portage
MICHAEL KORS
Part Time Sales Supervisor
Permanent · Elmhurst
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Cary
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Dallas
KOHLS
Full-Time Loss Prevention Officer
Permanent · Fontana
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Tomball
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Chesapeake
By
Reuters
Published
Aug 28, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Greek retailer Folli Follie profit soars on robust Asia

By
Reuters
Published
Aug 28, 2014

Greece's biggest jewellery retailer Folli Follie reported a 30 percent rise in first-half core profit, helped by robust growth in its Asian business and a gradual recovery in consumer morale in its crisis-hit home market. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 116.5 million euros ($153 million) in the first six months of the year from 89.6 million in the same period last year, the company said on Thursday.


follifollie.com



Greece's retail market has shrunk by about 30 percent since its peak in 2008, the year before a debt crisis plunged the economy into a six-year recession, due to austerity measures imposed under a 240 million euro international bailout.

Folli, which sells jewels in more than 28 countries in Europe, Asia and North America, has fared well thanks to its fast-growing Asian operations, accounting for about two thirds of its annual revenue.

Chinese conglomerate Fosun International holds a 13.9 percent stake in Folli, according to Reuters Eikon data. Net profit plunged to 66 million euros from 239.6 million a year ago. Last year's first-half results included a hefty one-off gain from the sale of a 51 percent stake in its domestic duty-free business to Swiss travel retailer Dufry.

Folli's sales rose 10 percent to 479 million euros, helped by improving consumer demand at home where it also sells luxury brands and operates department stores. The Athens-based IOBE think tank expects the economy to grow moderately this year and consumption to rise by 1 percent.

Shares in Folli have gained 26 percent so far this year, outperforming the Athens bourse index which is flat. (1 US dollar = 0.7596 euro)

© Thomson Reuters 2022 All rights reserved.