Restructuring negatively impacts Giorgio Armani's FY17 sales and profit

The Armani Group has said through a media statement that the company achieved positive results in 2017, with net profits of 325 million euros (376.7 million dollars) on 2,335 million euros (2,706,5 million dollars) of net revenues, down 7 percent at actual exchange and 5.8 percent at constant exchange. The company said, these results fit in the context of an anticipated and contained decline in net revenues and operating margins, attributable to the consolidation and rationalisation of its international distribution network and the implementation of its strategy to simplify and consolidate its portfolio of lines.