Safilo posts sales rise in Q3, returns to profitability

In the third quarter, net sales at Safilo Group S.p.A. reached 219.1 million euros, growing by 3 percent at current exchange rates and 6 percent at constant exchange rates led by the significant rebound experienced by the wholesale market in North America, and the full-quarter contribution deriving from the recent acquisitions of Blenders Eyewear and Privé Revaux. The company said in a statement that the latter, together with the continuing progress recorded by Smith’s D2C sales and by the group’s business generated through internet pure players, propelled Safilo’s total online sales to around 16 percent of group total turnover. The positive sales development and the ongoing implementation of the group’s cost saving actions also resulted in Safilo returning to a positive adjusted EBITDA of 14.3 million euros, up 9.3 percent.