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Compass: Lugano Fraud Cut Sales 19% - Orange County Business Journal
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Compass: Lugano Fraud Cut Sales 19% - Orange County Business Journal
Compass Diversified last week revealed the carnage allegedly created by Lugano founder Moti Ferder and it’s a doozy. Compass reduced its 2024 revenue by $410.2 million to $1.79 billion, a 19% drop. It cut its income from continuing operations from a profit of $42.3 million in 2024 to a loss of $327.8 million, a $370 million haircut. The company reported similar but smaller reductions for 2023 and said it’s looking to sell a couple of its brands.…
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