Safilo Group SpA (IT:SFL) has released an update.
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Safilo Group S.p.A. reported a decline in net sales for the third quarter and first nine months of 2024, primarily due to the exit of the Jimmy Choo brand and weak summer sales in North America and Asia. However, the company managed to increase its gross industrial margin and generate positive free cash flow, indicating improved operational performance and financial efficiency. The European market showed resilience with new collections, although North America faced challenges, particularly in the sports segment.
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