Italian eyewear group Safilo has experienced a significant decline in its adjusted core profit for the quarter, resulting in a 20% drop amounting to 18.1 million euros. This decrease in profit can be primarily attributed to the decrease in sales within former GrandVision chains in Europe, as well as the weakening North American market.

Safilo, a reputable manufacturer of eyewear for various renowned brands such as Hugo Boss and Tommy Hilfiger, reported net sales of 235 million euros for the period spanning from July to September. This figure contrasts with the 260.4 million euros achieved during the same timeframe last year. Consequently, there was a 3.9% decrease in sales at constant exchange rates compared to the previous year.

Despite these challenges, Safilo remains committed to enhancing its market position and reinforcing its competitive edge. As part of this effort, the company has extended the mandate of its Chief Executive, Angelo Trocchia, for an additional three years. This decision demonstrates the organization’s confidence in Trocchia’s leadership skills and capabilities.

Useful links:
1. Safilo Official Website
2. GrandVision Official Website