Clarins Sticks to Full-Year Guidance

2008-04-28 | 07:37

Q1 sales are flat as expected

Cosmetics group Clarins said it is sticking to sales guidance for the full year as it published flat first-quarter revenues, as anticipated by the market.

Sales were 240.1 million euros in the first quarter, virtually unchanged from 240.4 million a year earlier.

European sales were 155.3 million euros, down 3.1% from 160.2 million a year earlier, and declined 0.8% on an organic basis, with sales in France hit by a strong year-earlier comparison.

North America sales were 33.4 million, up 1.7%.

Clarins said despite lackluster spending in the U.S., trends benefited from renewed orders by some retailers, successful promotional campaigns and a favourable base comparison.

Asian sales rose 4.5% to 28.1 million euros.

Clarins still expects a 4-6% rise in like-for-like sales this year.

The company has also said it aims to improve its operating margin this year, but did not repeat this target.

By activity, sales at the beauty division rose 1.1% to 168.9 million euros, but perfumes sales fell 2.9% to 71.2 million.