SAFILO: FY19 sales matched expectations and FY19 margin target confirmed | NEUTRAL | Under Review
SAFILO - NEUTRAL | Under ReviewFY19 sales matched expectations and FY19 margin target confirmed
FY19 Sales in line with CS forecasts and guidance
US and Asia have more than offset weaker trends in Europe
FY19 adj. EBITDA margin guidance confirmed
Muscle up in 2020 to prepare exits of Dior and Fendi in 2021
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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