Safilo Sport Products, which consists of the U.S.-based Smith brand, saw sales grow 15.8 percent to €31.8 million in the fourth quarter ended Dec. 31, 2014 as it was undergoing a major restructuring.

The Italian eyewear company disclosed that it expects to spend close to $6 million restructuring Smith, which is in the midst of moving its design, marketing and sales headquarters from Sun Valley, ID to Portland, OR, where it will anchor a new global design center for Safilo Sport products.

In currency-neutral terms, Safilo Sport Products fourth quarter sales were up 11.0 percent. Currency-neutral sales at Safilo's Prescription Frames, Sunglasses and Other product segments grew 12.8 percent, 9.3 percent and 11.7 percent respectively. 

Safilo said its total sales growth accelerated in the fourth quarter and that the growth was broad based across all key geographies, including Western Europe, where it saw healthy sales and market share growth.

Safilo Group S.p.A
Consolidated Net Sales

 

Net sales by geographical area

(Euro in
millions)

 

2014

 

%

 

2013

Fourth Quarter

%                    Change %

 

Change %
(*)

 

Europe

 

118.6

 

38.1

 

119.1

 

42.6

 

-0.4

 

-0.1

Americas

133.6

42.9

108.4

38.8

+23.2

+15.4

Asia

51.9

16.7

47.1

16.8

+10.0

+3.4

Rest of the world

7.1

2.3

5.1

1.8

+37.3

+39.9

 

 

 

Net sales by product

(Euro in
millions)

 

2014

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