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.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"