Benetton profits and sales rising

ITALIAN clothing retailer Benetton reported a 9 per cent rise in first-quarter core profit on slightly higher sales, and confirmed its outlook for the year.

Benetton, traditionally known for its colourful jumpers and striking advertising campaigns, is aiming this year for a rise of at least 7 per cent in its core profit and a similar rate for revenue.

Chief financial officer Emilio Foa said: "When looking at the autumn/winter orders, we're confident about achieving our objective."

Foa said he expected orders for the collection to be 6 to 8 per cent higher than the previous year.