DAMIANI reports further losses

Italian luxury jewellery brand DAMIANI reported earlier this week negative results, its net loss having widened in the year ending March 31, 2010 to 18.2 million euros from a loss of 4.7 million euros a year ago. Damiani’s sales fell 2.7 percent at current exchange rates to 145.8 million euros. The decrease comes mostly from the wholesale which is the main distribution channel of the brand internationally.