By  on July 30, 2019

MILAN — Aeffe SpA was dented by the performance of its wholesale channel in the first six months of the year and on Tuesday shares of the Italian fashion company took a tumble following the release of the results. By early afternoon, shares had fallen 6.24 percent to 1.77 euros and closed down 8.89 to 1.72 euros.

In the first half ended June 30, net profits fell 37.3 percent to 5.2 million euros compared with 8.3 million euros in the same period last year. The company reported earnings net of IFRS 16, a new accounting standard whereby all leasing contracts must be recognized in the balance sheet as assets and liabilities.

To continue reading this article...

load comments
blog comments powered by Disqus