52
Fashion Jobs
ZALANDO
Head of Engineering - Emerging Propositions
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Beauty Advisor - Sokos Helsinki (Fulltime Temporary)
Fixed-term · HELSINKI
ESTÉE LAUDER COMPANIES
Full Time Beauty Advisor - Vantaa Airport, Helsinki
Permanent · HELSINKI
ESTÉE LAUDER COMPANIES
Estee Lauder Companies - Multi Counter Manager - Stockmann, Turku
Permanent · TURKU
MUJI
Avoin Hakemus - Myymälä
Permanent · HELSINKI
MUJI
Avoin Hakemus - Ravintola
Permanent · HELSINKI
JACK & JONES
Myyjä Jack & Jones Helsinki Outlet
Permanent · HELSINKI
MANGO
Sales Assistant
Fixed-term · VANTAA
RITUALS
Sales Advisor (Summerextra) - Tampere - Ratina Shopping Center
Permanent · TAMPERE
RITUALS
Sales Advisor (Summerextra) - Vantaa - Jumbo
Permanent · VANTAA
JACK & JONES
Kesätöihin Myyjäksi Vero Moda / Jack & Jones Porvoo
Permanent · PORVOO
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Mikkeliin
Permanent · MIKKELI
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Ouluun
Permanent · OULU
NEW YORKER
Haemme Extra- Myyjiä New Yorkerin Myymälään Vaasaan
Permanent · VAASA
MONKI
Sales Advisor, 10h (Summer Help Temporary)
Fixed-term · VANTAA
VERO MODA
Myyjä Vero Moda Seinäjoki Idepark
Permanent · SEINÄJOKI
ESTÉE LAUDER COMPANIES
MAC Make-up Artist (20h/Week) - Sokos Tampere
Permanent · TAMPERE
ESTÉE LAUDER COMPANIES
Beauty Advisor (30h/Week) - Stockmann Helsinki
Permanent · HELSINKI
MASSIMO DUTTI
Sales Assistant Massimo Dutti, Helsinki
Permanent · HELSINKI
H&M
Sales Advisor, 15h - Kesätyö
Permanent · SEINÄJOKI
H&M
Sales Advisor, 10h - Kesätyö
Permanent · KOTKA
H&M
Sales Advisor, 10-20h - Kesätyö
Permanent · PORVOO
Published
May 10, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Safilo improves in Q1, shrugs off bad weather in key markets

Published
May 10, 2018

Recent updates from retailers have pointed towards a heatwave-driven recovery in sales for some markets with sunglasses leading the charge. So it was interesting this week to see just how eyewear giant Safilo fared in the first quarter, given that the weather was cold and snowy in many markets.


Safilo/Polaroid



While sunglasses would have been the last thing on many consumers’ minds, the Italian giant actually said it saw a “significant recovery” year-on-year in Q1. It hailed “a return to normal operating conditions, recording strong growth rates in the European markets and in emerging countries, which had been hurt last year by the difficult start-up of the new information system in its Padua distribution centre. 

But it wasn't all good news. Excluding the impact from the weaker US dollar, sales in North America “remained soft, in particular due to the still difficult business environment in department stores.”

So what did that translate to in terms of figures? Net sales rose 6.9% to reach €250.9 million. At constant exchange rates,  that would have been a 15.4% increase. And the company said its Brand Portfolio was up 16.9% at constant exchange rates (excluding the Gucci business), “enriched by the launch of new licenses, Moschino, Love Moschino and Rag & Bone.”

Its gross profit reach €127.5 million, which was a 9.1% increase, with the gross margin rising to 50.8% of net sales compared to 49.8% a year ago.

Excluding €1.7 million on one-off costs, profit on an Ebitda basis was €13.1 million, which was so much better than the €6.2 million loss of a year ago. However, net debt reached €166 million, bigger than the €131.6 million of just three months earlier.

As mentioned, the company saw its performance varying widely around the world. European sales rose 25.5%, but in North America, they dropped 17.2%. Asia-Pacific was up 29.3% and the rest of the world soared 72.1%.

In Europe, its Brand Portfolio, excluding the Gucci business was up nearly 32% at constant exchange rates so the company is clearly powering ahead in the markets closest to home. Further afield, the Asia-Pacific performance continued the stronger trend that has been seen in the second-half. And in the rest of the world, Safilo did well in Brazil, Mexico, India and Saudi Arabia, together with the countries it had more recently entered through local distribution partnerships.

But clearly, North America remains a problem on more than one front. The exchange rate issue is one that's hard to overcome, but at least the company knows that this will change at some point. Less easy to predict is the situation in American department stores, which remain hugely challenged across multiple product categories. But at least the group's American Solstice business managed to turn in an improved performance with sales up 1.4% at constant exchange rates and same-store sales up 2.5%.

Copyright © 2024 FashionNetwork.com All rights reserved.