Luxury products retailer, Bulgari Group, reported net profits fell 4.6 percent to EUR 22.8 million ($35.5 million) in the first quarter of 2008 on higher operating costs, and due to a slowdown in sales in the Americas and in its home base Italy. Total group revenues increased 3 percent to EUR 231.7 million ($360.9 million) for the three months ending March 31, 2008, as sales in all product categories rose. The company’s jewelry sales grew 0.4 percent to EUR 94.4 million ($147 million,) watches rose 2.8 percent to EUR 60.2 million ($93.77 million,) and accessories increased 1.6 percent to EUR 21.4 million ($33.33 million.) Sales at Bulgari’s perfume division increased 10 percent to EUR 47 million ($73.21 million.)

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