Safilo Q1 2017 Sales Down Compared to 2016

Thursday, May 11 2017 | 00 h 00 min | Financial News, News, Press Release

The Board of Directors of Safilo Group S.p.A. has today reviewed and approved Q1 2017 economic and financial key performance indicators.

In the first quarter of 2017, Safilo’s total net sales equaled Euro 237.3 million, down 21.3% at current exchange rates and 22.8% at constant exchange rates, compared to Euro 301.6 million in the first quarter of 2016.

Economic and financial results were heavily impacted by the start-up of the new SAP information system in the Distribution Centre in Padua, mainly related to its unique fully automatized operations and complex global volumes, impacting in particular warehouse deliveries of the Going Forward Brand Portfolio and thus quarterly sales.

Q1 2017 results also reflected the exit of the Gucci license and its replacement by the Strategic Product Partnership Agreement with Kering for the product development, manufacturing and supply of Gucci eyewear.

Click HERE to read the full press release.