Safilo expects to report 11 to 13 percent drop in Q1 sales

Safilo Group S.p.A. has announced that the extraordinary circumstances after Covid-19 outbreak are having direct and indirect repercussions on the company’s economic activity, resulting in negative effects for the group’s sales and earnings performance which are today impossible to predict for the full year. As a consequence, the company has withdrawn 2020 outlook provided on December 10, 2019. As for the Group’s business development in the first quarter of the year, Safilo added that based on preliminary data, its net sales are expected to decline by 11 percent to 13 percent at constant exchange rates compared to the same quarter of 2019.