The first quarter sales for the Bulgari Group slipped down by 23 percent amounting to $243.3 million, The current global economic slowdown is considered to have affected the sales. Net loss for the company amounted to $40 million during the quarter that ended March 31, 2009. In the same three months last year, the company earned a net profit of $31.1 million. %% Of its total sales, sale of jewellery fell by 15 percent to $108.9 million, of watches by 30 percent to $57.5 million. Sale of luxury items like perfumes and cosmetics slipped by 26 percent to $47.9 million, while that of accessories by 34 percent to $19.4 million. The company noted decrease in sale across world markets; in America sale was lowered by 37 percent, in Europe by 26 percent and in Asia by 17 percent.