Safilo 'shows some recovery'

Safilo recorded first quarter sales substantially in line with the first quarter of 2009, down 0.7 per cent at current exchange rates to €286m.

The company, which divested its retail chains in Australia and Spain, grew its revenues by 3.9 per cent at constant exchange rates, which it described as 'showing some recovery in a still uncertain business environment'.

While the US market improved and there was a good performance in Asia, 'European markets continued to be challenging, with volume growth counterbalanced by the decrease in average sales tickets due to consumer demand still focused on more affordable prices'.

The house brand Carrera grew by 25 per cent in the quarter, with development in the main European markets continuing with advertising and marketing campaigns.