MILAN — Safilo SpA on Wednesday reported a 40 percent drop in net profits in 2013, to 15.5 million euros, or $20.6 million, as one-off costs related to the company’s management succession plan, restructuring expenses and provisions for an audit by Italian tax authorities weighed on the bottom line. Excluding one-off costs, net profits for the full year would have been 39 million euros, or $52 million, up nearly 51 percent on 2012.
Dollar amounts have been converted at average exchange for the periods to which they refer.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)