MILAN — Safilo Group shares tumbled on Friday, declining as much as 7 percent and closing down 5.33 percent to 4 euros following the release of the firm’s first-half figures a day earlier that showed a steeper loss and a fall in revenues.
In the six months ended June 30, the adjusted net loss totaled 10.4 million euros, compared with a net loss of 6.6 million euros in the first half of 2017, and a 10 percent decrease in sales to 492.2 million euros, as reported. The conference call with analysts held Friday morning to present the update on the 2020 plan did not help ease concerns about the Italian eyewear-maker as chief executive officer Angelo Trocchia said the company was looking at streamlining the organization and cutting costs and that a meeting with the unions was planned for later in the day.
Exclusive: @tommyhilfiger has tapped 22-year-old actress @zendaya to be his newest collaborator and together they will launch a see-now-buy-now collection in February. Speaking to WWD about the project, the Spider-Man actress said: “Fashion is more than just wearing cool clothes. It’s a way to celebrate self-expression and individuality, which is extremely empowering. This is why I am proud to partner with Tommy Hilfiger.” Tap the link in bio for the full scoop. #TommyXZendaya #wwdfashion
Fashion is facing a blistering pace of technology, a complex economic backdrop, and shifting social mores, priorities, and lifestyles. WWD's annual CEO summit on Oct. 30 and 31, will be the meeting place for some of the sharpest minds in the business who will address how these forces affect a consumer. Speakers this year include Antoine Arnault, Virgil Abloh, Gabriela Hearst, and Olivier Rousteing. Tap the link in our bio to find out more. #wwdceosummit