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Ferragamo: sales down 18% in 1st quarter

( - Salvatore Ferragamo reported sales of 227 million euros for the first three months of 2024 on Thursday evening, down 18.
3% year-on-year, including a 16.6% contraction at constant exchange rates.

The Italian luxury footwear house said its direct-to-consumer distribution business was down 11.1%, impacted by January activity and a volatile consumer environment in China.

Wholesale sales fell by 38.3%, penalized by a weak environment and a difficult basis for comparison, particularly in Europe, due to a change in the delivery schedule compared with last year.

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