Safilo posts 20% drop in adj. core profit as Europe, North America weighs
03/11/2023 16:53
Nov 3 (Reuters) - Italian eyewear group Safilo SFLG.MI
on Friday reported adjusted core profit at 18.1 million euros in
the quarter, down 20% year-on-year, due to declining sales in
former GrandVision chains in Europe and by weakness in the North
American market.
The Padua-based firm said net sales for the July to
September period were 235 million euros ($252.20 million),
compared to 260.4 million a year earlier. Third-quarter sales at
constant exchange rates were down 3.9% from year earlier.
Safilo, which makes eyewear for brands such as Hugo Boss and
Tommy Hilfiger, also extended Chief Executive Angelo Trocchia's
mandate for additional three years.
($1 = 0.9318 euros)
(Reporting by Romolo Tosiani; editing by David Evans)
((Romolo.Tosiani@tr.com;))