IT problems at the beginning of the year and the lapse of its Gucci license have continued to plague Safilo’s balance sheets, new financials have shown.
Despite working through an order backlog caused by the IT and warehouse problems, the company reported second quarter sales figures of €315.3m, down 9.8% compared to last year at current exchange rates. For the first half of 2017, net sales totalled €552.6 million, down 15.1% at current exchange rates. EBITDA fell by 54% in the same period to €24.1m.
Second quarter sales of Safilo's going forward brand portfolio, which excludes Gucci, rose by just 1.2% after a promising Q2 in 2016 that saw growth of 9%.
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