Salvatore Ferragamo grows by 4.3% in the first quarter of 2019: finally

Ferragamo turns the ship around. After sales decreased for 10 consecutive trimesters, the Tuscan brand beats (by a little) the forecasts thanks to China and archives a positive quarter. During the period that closed on March 31st, sales of Salvatore Ferragamo group grew by 4.3%, equal to 317 million euro (analysts were expecting 315 million in sales), while net profits went up 23.5% to 11 million euro. Analyzing the different product categories, at constant rates and on yearly base, footwear (worth over 40% of total revenue) registered a +7.3% growth, while leather goods (another 40% of revenue), grew by 8.7%. The Asia-Pacific area re-confirms itself as Ferragamo’s first market (+7.2%): Chinese stores sold 21.2% more than the previous period. The April trend is “in line with the first few months of the year” for the luxury brand, explained Micaela Le Divelec, Ferragamo’s ceo, during a conference call. “We would like to work on a more emotional and engaging approach”, aiming to “increase the customer loyalty that we are already building”, she repeated.

 

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