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Article: DE SOLE'S DENOUEMENT: GUCCI GROUP'S PROFITS RISE 2% IN 4TH QUARTER.
- Article from:
- WWD
- Article date:
- April 2, 2004
- Author:
CopyrightCOPYRIGHT 2004 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Paris -- Domenico De Sole took his final bow as Gucci Group's chief executive Thursday by delivering fourth-quarter operating profits for the Gucci brand of $206.4 million -- an amount that matches total revenues of the derelict luxury brand in 1993, when De Sole moved to Italy and embarked on a legendary rejuvenation campaign.
"I think the company is moving in a strong direction, and Tom [Ford] and I leave it in a really healthy situation," De Sole told WWD. "I am generally optimistic [about 2004]. Gucci continues to be a real superstar brand."
Gucci Group's net income in the quarter ended Jan. 31 rose 2 percent to $119.7 million, or 97.3 million ...