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GROUPE SEB'S U.S. SALES UP 65%.

ECULLY, France-Groupe SEB's U.S. sales have increased 65 percent, marking a turnaround for its businesses here, the company said in its quarterly earnings report.

The company reported that for the period ended March 31, sales were the equivalent of $620.9 million, with euro conversion rates as of April 14. This is a 1 percent increase from sales of $616 million for the year-ago quarter.

In North America, following a difficult 2004, Groupe SEB saw signs of growth in the new year. Sales increased 35 percent to $90 million from $67 million.

U.S. sales increased 65 percent with All-Clad and 9.3 percent excluding All-Clad. The upturn follows two years of decline, reflecting a stabilization in T-Fal sales, a turnaround in the Krups brand led by new products launched in late 2004, and the launch of new-model irons and hand steamers from Rowenta. All-Clad sales alone increased by 15 percent during the quarter to $24 million.
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Title Annotation:Groupe SEB North America
Publication:HFN The Weekly Newspaper for the Home Furnishing Network
Article Type:Brief Article
Geographic Code:1USA
Date:Apr 25, 2005
Words:158
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