By  on March 16, 2017
A Max Mara model produced and distributed by Safilo

MILAN - Shares of Safilo Group SpA plunged over 6 percent on Thursday morning, underperforming the
 Milan Stock Exchange, and remained down almost 4 percent after noon on news that the 
eyewear maker’s first quarter 2017 sales will be impacted by delivery
 complications out of its Padova, Italy, distribution center.

Sales of its Going Forward Brand portfolio, which no longer includes Gucci, are likely to
 drop 15 percent to 20 percent in the first quarter compared with the same period 
last year, Safilo chief executive officer Luisa Delgado said in a conference call on Thursday morning.

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