MILAN — Aeffe is postponing the approval and release of its nine-month trading update, initially scheduled for Nov. 14, to a date yet to be decided.
The Italian fashion group on Tuesday explained that the postponement was necessary after filing last month an application for access to the negotiated settlement of the group business crisis (CNS), as reported. The application was filed in the interest of Aeffe and its subsidiary Pollini. The group also controls the Alberta Ferretti and Moschino brands.
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In October, Aeffe also requested the appointment of an independent expert, later identified by the Chamber of Commerce as Riccardo Ranalli, and the application of protective measures.
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The postponement was required also because the industrial plan to restructure the company is still being prepared, impacting the nine-month trading update.
That said, at the end of trading Aeffe’s board on Tuesday did report sales and earnings figures as of Sept. 30.
Consolidated sales amounted to 155 million euros, a 25.4 percent decrease compared with 207.8 million euros in the same period last year.
Sales of the ready-to-wear segment totaled 95.5 million euros, down 31.8 percent. Sales of the footwear and leather goods division decreased 11.4 percent to 76.8 million euros.
Consolidated losses before interest, taxes, depreciation and amortization amounted to 11.9 million euros.
Net of the IFRS effect, debt stood at 114.9 million euros compared with 67.7 million euros at the end of December 2024.
In the first nine months, sales in Italy fell 30.3 percent to 62.4 million euros, accounting for 40.2 percent of the total. Europe revenues decreased 17.1 percent to 52.8 million euros, representing 34.1 percent of the total. Sales in Asia and the Rest of the World area were down 26.6 percent to 31.4 million euros, representing 20.2 percent of the total. Sales in America dropped 28.5 percent to 8.5 million euros, or 5 percent of the total.
Wholesale revenues were down 25.9 percent to 102 million euros, while retail was down 19.3 percent to 50.8 million euros.
Aeffe is rationalizing its retail network and earlier this month the board approved the early termination of the rental contract signed with two real estate firms, Colloportus and FQuattro, respectively controlled by designer Alberta Ferretti and her brother, executive chairman Massimo Ferretti. This will lead to the closure of the Alberta Ferretti store in Rome’s luxury shopping street Via Condotti, bringing Aeffe 9.5 million euros of key money.