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January 14, 2002

ITALY: Armani Posts Rise In Sales Despite US Woes

Leading Italian fashion and design group Giorgio Armani SpA said on Monday that total retail sales grew nine per cent in 2001 to 481 million euros ($429.5m) despite US sales gaining only one per cent last year. The group added that preliminary net revenue for 2001 increased 23 per cent on the year to 1.27 billion euros, in line with forecasts.

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