Gucci's 利益（をあげる）s unravel to £49m

By THIS IS MONEY
Updated: 00:00 BST, 26 September 2002

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THE 低迷 in world 財政上の markets is taking a 激しい （死傷者）数 at 高級な goods group Gucci, where first-half 利益（をあげる）s were 削除するd by more than 50% to e79.5m (£49.8m) from e178.4.

The group, 供給者 of upmarket branded handbags, shoes, 着せる／賦与するs and other fashion 従犯者s to the 豊富な 始める，決める around the globe, also 警告するd that 利益（をあげる）s might 落ちる shy of 期待s for the year as a whole if war breaks out in Ira q.

大統領 and 長，指導者 (n)役員／(a)執行力のある officer Domenico de 単独の said: 'I continue to believe, based on the most 最近の sales 人物／姿／数字s, that the Gucci Group can 会合，会う its 2002 客観的な of fully diluted 逮捕する income per 株 of at least e2.60. However, there is the 危険 that 需要・要求する, in the 直面する of the 全世界の political-経済的な 騒動, may 弱める 原因（となる）ing our results to 落ちる short of this 客観的な.'

にもかかわらず an 上昇傾向 in sales in September, the company remains 高度に 用心深い about the prospects for 回復 予定 to 'the uncertain 全世界の political 環境, volatile 財政上の markets and weak 経済成長'.

For the group as a whole, second-４半期/4分の1 歳入s fell 7% to e577m, while operating 利益（をあげる）s were 負かす／撃墜する 41% to e62.4m in the three months to 31 July. Second-４半期/4分の1 逮捕する income, 負かす／撃墜する 55% at e42.8m, was わずかに below 予測（する）s.

One rare 有望な 位置／汚点／見つけ出す was a strong 業績／成果 from the Yves Saint Laurent 分割, where second-４半期/4分の1 歳入s 前進するd 35% to e33.7m. YSL branded 小売 sales more than 二塁打d.

The 分割 is 予測（する） to 配達する 'high 二塁打-digit 歳入 growth' for the year as a whole and 減ずる its operating loss from the e76.2m 記録，記録的な／記録するd in 2001.

The cosmetics 分割 報告（する）／憶測d a small 落ちる in sales to e106m. The あへん brand was best performer, 地位，任命するing a 24% 増加する in 歳入s. The second-４半期/4分の1 operating loss from cosmetics was e8.6m compared with e3.1m for the same period last year.

The other operating 分割 含むing the Stella McCartney, Alexander McQueen and Bottega Veneta brands, 地位，任命するd an operating loss of e17.8m-compared with e11.6m last year.

全体にわたる, for the group, the 甚だしい／１２ダース 利ざや for the ４半期/4分の1 was 71.5% against 75.4% last year. Cost-支配（する）／統制する 対策 brought operating expenses 負かす／撃墜する 15.5% to e153m from e181m in 2001.

How other big 指名するs are struggling

AT THE 高さ of this week's Milan fashion shows Gucci is far from alone in struggling to make money while the world's 豊富な stop spending.

株 in Italian jeweller Bulgari stand at a four-year low, having fallen from e10 to e3.68 in the past six months. The world's third-largest jeweller 警告するd as 早期に as April that 2002 would be a year of 'convalescence' with its high-利ざや watches 商売／仕事 特に struggling.

Up the autostrada from Bulgari's （警察，軍隊などの）本部 in Rome, Tuscany's Prada was 軍隊d to 取り消す its planned 株 flotation for the fourth time 支援する in July.

Earlier this month it 報告（する）／憶測d a 12% rise in sales and a turnaround from loss to 利益（をあげる） in the second ４半期/4分の1, but 長，指導者 (n)役員／(a)執行力のある Patrizio Bertelli 認める it had to 速度(を上げる） up 配達／演説／出産s of its fastest selling goods from factory to shop to 反対する 病弱なing 消費者 需要・要求する.

Even Brioni Roman Style, the tailor of £2,600 控訴s, which has seen sales 増加する by 500% over the past 11 years, recently 認める that it 推定する／予想するs no 重要な growth in 需要・要求する this year.