Safilo posts 20% drop in adj. core profit as Europe, North America weighs By Reuters

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<span>© Reuters. Safilo logo and stock graph are seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration/File photo</span><br />
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<p>(Reuters) – Italian eyewear group Safilo on Friday reported adjusted core profit at 18.1 million euros in the quarter, down 20% year-on-year, due to declining sales in former GrandVision chains in Europe and by weakness in the North American market.</p>
<p>The Padua-based firm said net sales for the July to September period were 235 million euros ($252.20 million), compared to 260.4 million a year earlier. Third-quarter sales at constant exchange rates were down 3.9% from year earlier.</p>
<p>Safilo, which makes eyewear for brands such as Hugo Boss and Tommy Hilfiger, also extended Chief Executive Angelo Trocchia’s mandate for additional three years.</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/safilo-posts-20-drop-in-adj-core-profit-as-europe-north-america-weighs-3221899">Source link </a></p><p>The post <a href="https://forextraderhub.com/safilo-posts-20-drop-in-adj-core-profit-as-europe-north-america-weighs-by-reuters.html">Safilo posts 20% drop in adj. core profit as Europe, North America weighs By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>