Sales growth of 5.1% at Safilo in 2014

Thursday, March 12 2015 | 00 h 00 min | Financial News

Italian eyewear manufacturer Safilo Group reported a 5.1% increase in sales to CAN$1.487 billion in 2014 (1.178 billion euros).

The company’s gross profit also increased by 5.1%, compared to 2013, to CAN$907 million (718.6 million euros), whereas adjusted net profit jumped by 14.1%, compared to last year, to CAN$56 million (44.5 million euros).

Sales increased by 8% in the Americas and growth was very strong (23.3%) in the fourth quarter. Sales increased slightly (+3.4%) in Europe and remained stable (-0.2%) in Asia.

Safilo’s strategy to separate its brands into five market segments seems to be successful. Dior’s performance was solid in the high-end sector, while Boss and Tommy Hilfiger are becoming Safilo’s core brands. The Max Mara brand recorded two-figure growth in 2014, while Gucci sales remained stable. Safilo now intends to restage the Carrera brand, whose sunglass sales dropped and ophthalmic frame sales were flat in 2014.

For further information: http://investors-it.safilo.com/phoenix.zhtml?c=195673&p=irol-irhome