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Stefanel Q3 loss widens 95.0% YOY

Stefanel S.p.A. said its third-quarter normalized net income amounted to a loss of €3.4 million, compared with a loss of €1.7 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 8.2% from negative 4.0% in the year-earlier period.

Total revenue decreased on an annual basis to €41.0 million from €42.6 million, and total operating expenses rose year over year to €44.5 million from €43.6 million.

Reported net income came to a loss of €5.8 million, or a loss of 7 cents per share, compared to a loss of €3.5 million in the prior-year period.