Ferragamo: Q1 sales down 18%

(CercleFinance.com) - Salvatore Ferragamo reported Q1 2024 sales of E227m on Thursday evening, down 18.
3% y-o-y, including a 16.6% contraction at constant exchange rates.

The Italian luxury footwear house pointed out that its direct-to-consumer distribution business fell by 11.1%, impacted by January's activity and by a volatile consumer environment in China.

Wholesale sales fell by 38.3%, penalised by a weak environment and a difficult comparison basis, particularly in Europe, due to a change in the timing of deliveries compared to last year.


Copyright (c) 2024 CercleFinance.com. All rights reserved.