By  on July 31, 2008

MILAN - Italy's Safilo Group SpA revised down its full year outlook on Wednesday, after the spiraling dollar and a weak performance in Europe reduced second quarter earnings by more than a third.

The eyewear company, which has licenses with Armani, Dior, Gucci, and Valentino, among others, slashed its revenue growth forecast to 4 percent,from 7-8 percent at constant exchange, and adjusted its net income target to 3 to 3.5 percent of sales, from 4.5 to 5 percent.

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