Safilo Group S.p.A. reported it was able to offset adverse exchange rates and the loss of its Armani license in the third quarter by boosting organic sales of its core prescription and sunglasses brands, including Smith Optics, 17 percent.

 


The Italian optics company said it continued to experience organic growth in sunglasses sales through both department stores and 133 Solstice Sunglass Boutique locations and solsticesunglasses.com Safilo operates in the United States.

 

 

Organic growth, which is expressed in currency neutral (c-n) terms, excludes the sales of licensed Armani brands not renewed at the end of 2012 and the sale of the Polaroid brand, which Safilo acquired in the first quarter.

 

Overall revenues in the Americas declined 5.2 percent to €109.7 million, which translated to an increase of 1.7 percent c-n. Wholesale revenues inched up 0.8 percent c-n to €88.8 million, while sales at the Solstice stores increased 6.1 percent c-n to €20.9 million ($28 mm). 

 

Safilo reported worldwide sales of sunglasses reached €121.9 million, up 1.9 percent c-n, while sales of Sport Products increased 6.4 percent c-n to €22.2 million. Solstice also sells Costa del Mar and Oakley branded sport sunglasses.
Europe, where sales grew 7.7 percent c-n, drove overall sales growth during the quarter with the strongest performances coming from France, Germany and the United Kingdom.