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Luxury goods will return to growth in 2010 | Reuters

Business/Office: Luxury goods will return to growth in 2010

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Gifted submitted 2009/12/11 23:34, published 2009/12/11 23:34 | 735 views
Tags: 2010, luxury, goods, growth

http://www.reuters.com/article/idUSTRE5AN3B520091124

MILAN (Reuters) - Luxury goods sales will return to growth next year with profitability increasing more than revenues thanks to strong cost containment policies in 2009, according to a Bank of America Merrill Lynch report.

Sales will likely grow by 5 percent next year while core profit will rise 17 percent. Net profit will increase 13 percent, the report said, citing a consensus of estimates from analysts.

The report was presented at the Milan Fashion Global Summit on Tuesday.

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