La Rinascente Group reports 2016 sales up 3%

On the eve of the inauguration of the Palazzo Reale exhibition, which celebrates the 100th anniversary of La Rinascente (opens Thursday), the new CEO of the department store Pierluigi Cocchini points to the sales trend in 2016, rising by 3% to 615 Millions at group level.

“Milan alone closed to 350 million (150 in 2015) and for 2017 we expect a + 5/6%. The average trade margin (+ 4%) and shopping tax free (+ 25%) also grew, thanks to the Chinese, but also to the return of Russians. The square meter yield in Duomo exceeds 20,000 euros, a European record, ” Cocchini told Il Sole 24 Ore.

La Rinascente Milan