In Brief: Sanofi
This article was originally published in The Rose Sheet
Executive Summary
Sanofi: Yves Rocher and Nina Ricci subsidiaries "registered good performances" for the first half of 1995 "with sales growth of more than 6%," the Paris-based company announces July 24. Overall perfume and beauty product revenues declined 16.2% to $403.7 mil. (based on June 30, 1995 exchange rate of $1 = FFr 4.8405). The double-digit decline, Sanofi explains, takes into account the divestment of the Stendhal, Perry Ellis and Geoffrey Beene brands, as well as "measures taken with regard to the selective distribution of major brands." The company noted that, on a comparable basis, sales for the segment only declined 6.1%. Perfumes and beauty products represent 15.9% of the firm's $2.54 bil. (down 7.7%) in sales for the first half. Sanofi said it plans to release first half earnings results "at the end of August" and expects to "register a satisfactory increase" over the year-ago figure...