By  on January 30, 2018

MILAN — Safilo Group SpA said Tuesday that preliminary sales decreased 16.4 percent to 1.04 billion euros last year, compared with 1.25 billion euros in 2016.

The Italian eyewear company attributed the decline to the loss of the Gucci license, which has become a supply agreement, representing 155 million euros, down 12 percent, and to the implementation of the new Order-to-Cash IT system in the Padua, Italy, warehouse early in the year. This generated delays in deliveries, and “while operationally recovered from mid-year,” it impacted orders, and dented revenues and profits up to and including the fourth quarter, causing “exceptional external costs of approximately four million euros,” the company said.

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