• Giorgio Armani 2017 Profits Dented by Restructuring, Sees Growth in 2020

    3 monthes ago - By WWD

    MILAN - The reorganization of the Giorgio Armani company dented profits and margins last year, but the designer is confident growth will return in 2020. One thing is sure: Armani need not worry about liquidity, sitting on an all-time high cash pile of one billion euros, earmarked for further investments in the group's brands.
    In the 12 months ended Dec. 31, the Armani Group saw its net profit decrease 10.5 percent to 242.4 million euros compared with 271 million euros in 2016.
    Revenues in 2017 totaled 2.33 billion euros, down 7 percent compared with 2.51 billion euros in the previous year...
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