Equita cuts Safilo expecting Q2 sales decline on weak demand, FX

Safilo SpA

03/07/2026 10:31

** Equita downgrades Italian eyewear maker Safilo SFLG.MI to "hold" from "buy", as it expects Q2 sales to be penalised by weak demand in core markets and negative FX impact
** The broker expects Q2 to be down overall after management expressed caution during the Q1 call, underlining weakness in demand in EMEA and North America
** Equita expects Q2 sales to fall 4.8% to €239.8 million ($274.6 million), including a still-negative though less pronounced FX impact, while expecting a moderate expansion of margins 
** The broker now sees less room for the stock's re-rating, flagging a lower visibility on the trajectory of organic growth
** Out of six analysts covering Safilo, three rate it "buy" and ​three "hold" - LSEG data
** Safilo shares slip 2%
($1 = 0.8734 euros)

(Enrico Sciacovelli)
((Enrico.sciacovelli@thomsonreuters.com))