SAFILO - BUY | EUR1.8(+15%) Q3 results beat expectations and FY guidance reiterated
SAFILO - BUY | EUR1.8(+15%)Q3 results beat expectations and FY guidance reiterated
Q3 sales: 5% beat mainly driven by a positive phasing effect
US still strong, first signs of improvement in Europe and Asia
Margin tailwinds clearly offset higher freight costs
FY21 outlook confirmed as phasing effects will weigh on Q4 numbers
Safilo engages in the design, production, wholesale, and retail distribution of prescription eyewear, sunglasses, sports eyewear, and accessories. Co. also provides optical frames, technical sports goggles, ski goggles, and helmets. Co. provides its products under various brands such as Safilo and Smith, as well as under the licensed brands, such as Alexander McQueen and Banana Republic. Co. serves opticians, optometrists, ophthalmologists, distribution chains, department stores, specialized retailers, licensors' own stores, duty free shops, and sports shops through independent distributors and agents, as well as through its own branches in Europe, the Americas, Asia, and internationally.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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