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March 9, 2017
Salvatore Ferragamo Sees Revenues Fall In Q4
Salvatore Ferragamo SpA noticed preliminary 2017 revenues decline 3.1 percent to 1.34 billion euros, or $1.66 billion at current exchange, in contrast with 1.Forty three billion euros in 2016. At fixed alternate rates, sales were down 1.Four p.c.
Revenues in the last quarter decreased 8.4 p.c, penalized by the currencies pattern and by lower promotional gross sales in the first personal-retail channel, thanks to higher control of inventories, mentioned the Florence-primarily based group.
Associated Why Paul Andrew Was Just Promoted at Ferragamo
As of Dec. 31, the group’s retail community comprised 685 factors of gross sales, including 410 directly operated stores and 275 third-party operated shops. Within the 12 months ended Dec. 31, the retail channel was down zero.8 percent to 905.3 million euros, representing 65 percent of complete revenues. Like-for-like sales at constant trade had been down 1.7 p.c.
The wholesale channel, penalized by destocking activity, the political tensions in South Korea and a strategic rationalization in Japan, decreased 7.Four percent to 465.3 million euros.
The Asia-Pacific space was confirmed because the group’s top market, representing 36.6 % ferragamo online france of whole revenues. In the region, gross sales declined 2.1 p.c to 510.6 million euros, penalized by the soft development in South Korea, mostly as a consequence of the numerous lower of Chinese language tourists, and the continuing adverse performance in particular in Hong Kong. Conversely, the retail channel in China showed continued development, posting a 2.5 % uptick, or 7 percent at fixed change.
Europe was down 3.6 percent to 351.2 million euros with a positive performance for the retail channel and a damaging development for the wholesale business, negatively impacted by the destocking exercise.
Sales in North America fell four.2 percent to 333.6 million euros, representing 23.9 p.c of total gross sales, additionally negatively impacted by the efficiency of malls.
Japan was down 5.6 p.c to 119.5 million euros because of the strategic rationalization of the wholesale channel, whereas the retail stores confirmed a optimistic efficiency at constant change rates.
Revenues in Central and South America grew 2 percent, or 6.5 percent at constant trade, to 78.Three million, despite the earthquake in Mexico in September.
By class in the year, footwear gross sales dropped 3.6 p.c to 589.2 million euros, representing 42.3 % of whole sales.
Handbags and leather ferragamo online france accessories have been down 2.4 p.c to 516 million euros, accounting for 37 % of whole gross sales.
Gross sales of ready-to-put on decreased three.9 percent to 89.8 million euros, or 6.4 percent of the overall. Silk and other accessories fell 7.4 p.c to 86.Three million euros. Fragrances were up 1.2 p.c to 89.1 million euros.
In February, during Milan Style Week, Ferragamo will hold a coed runway present to unveil its men’s and women’s fall 2018 collections, designed by Guillaume Meilland and Paul Andrew, respectively. The present will mark the rtw debut of Andrew, who was previously women’s footwear creative director and was appointed creative director of the women’s line last October. He succeeded Fulvio Rigoni.