Safilo, a prominent player in the eyewear industry, is seeing positive trends in the third quarter, although it maintains a cautious outlook for the future. The company is optimistic about its sales performance, expecting a significant increase in revenue compared to the same period last year. This optimism stems from a strong rebound in business in July, followed by robust performance in August and early September. Safilo anticipates mid-single-digit growth in sales for Q3, including contributions from recent acquisitions. This growth reinforces the company’s projection for a return to profitability on an adjusted EBITDA basis.
Initially projecting a moderate decline in revenue, Safilo adjusted its guidance due to a more moderate slowdown in the wholesale segment. Factors contributing to this improvement include the recovery of the North American independent opticians’ market, impressive progress in Smith’s online business, and substantial contributions from Safilo’s direct-to-consumer brands like Blenders and Privé Revaux. These brands, acquired recently, have played a key role in Safilo’s performance.
Despite the positive trajectory, Safilo is exercising caution and refraining from providing full-year guidance. The company highlights ongoing uncertainties, particularly related to the pandemic, as reasons for this approach. Safilo recognizes the potential for the pandemic to pose challenges in the future, prompting a vigilant stance on future prospects.
For more information on Safilo’s performance and industry trends, you can visit their official website here. Additionally, for insights into the eyewear market and industry updates, you can explore industry reports here.
