Industry News
Safilo Reports Decreased Net Sales
In the third quarter of 2017, Safilo’s total net sales equaled Euro 245.1 million compared to Euro 288.0 million in the third quarter of 2016, down 14.9% at current exchange rates and 12.3% at constant exchange rates. In the quarter, the net sales of the Going Forward Brand Portfolio increased by 1.3% at constant exchange rates (+1.6% excl. retail), driven in particular by the positive growth trends experienced by the Safilo’s Own Core Brands and good sales momentum in Emerging Markets.
In the first nine months of 2017, total net sales equaled Euro 797.7 million compared to Euro 939.1 million in the first nine months of 2016, down 15.1% at current exchange rates and 15.0% at constant exchange rates.
In the period, the net sales performance of the Going Forward Brand Portfolio was negative by 4.0% at constant exchange rates (-3.5% excl. retail), due to the difficult start to the year following the implementation of the new Order-to-Cash IT system in the Italy.
Safilo’s sales and economic results reflect the exit of the Gucci license at the end of 2016 and its replacement with the Strategic Product Partnership Agreement with Kering for the product development, manufacturing and supply of Gucci eyewear.
