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July 1, 2016
Salvatore Ferragamo Sees Revenues Fall In Q4
Salvatore Ferragamo SpA saw preliminary 2017 revenues decline three.1 p.c to 1.34 billion euros, or $1.Sixty six billion at present change, in contrast with 1.Forty three billion euros in 2016. At fixed trade rates, sales were down 1.Four %.
Revenues in the final quarter decreased 8.4 p.c, penalized by the currencies pattern and by decrease promotional gross sales in the first personal-retail channel, thanks to higher control of inventories, mentioned the Florence-primarily based group.
Related Why Paul Andrew Was Simply Promoted at Ferragamo
As of Dec. 31, the group’s retail community comprised 685 factors of gross sales, together with 410 straight operated shops and 275 third-party operated shops. Within the 12 months ended Dec. 31, the retail channel was down zero.8 percent to 905.Three million euros, representing sixty five % of whole revenues. Like-for-like gross sales at constant trade were down 1.7 percent.
The wholesale channel, penalized by destocking activity, the political tensions in South Korea and a strategic rationalization in Japan, decreased 7.Four p.c to 465.3 million euros.
The Asia-Pacific space was confirmed as the group’s prime market, representing 36.6 p.c of total 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 decrease of Chinese vacationers, and the continued detrimental performance specifically in Hong Kong. Conversely, the retail channel in China showed continued progress, posting a 2.5 % uptick, or 7 percent at constant alternate.
Europe was down three.6 p.c to 351.2 million euros with a constructive efficiency for the retail channel and a damaging development for the wholesale business, negatively impacted by the destocking activity.
Sales in North America fell four.2 p.c to 333.6 million euros, representing 23.9 p.c of salvatore ferragamo womens shoes total gross sales, also negatively impacted by the performance of malls.
Japan was down 5.6 p.c to 119.5 million euros due salvatore ferragamo womens shoes to the strategic rationalization of the wholesale channel, whereas the retail stores confirmed a positive performance at constant change rates.
Revenues in Central and South America grew 2 p.c, or 6.5 p.c at fixed alternate, to 78.Three million, regardless of the earthquake in Mexico in September.
By class in the year, footwear sales dropped three.6 % to 589.2 million euros, representing 42.3 percent of whole gross sales.
Handbags and leather accessories had been down 2.Four % to 516 million euros, accounting for 37 p.c of total gross sales.
Sales of prepared-to-put on decreased three.9 p.c to 89.Eight million euros, or 6.4 p.c of the entire. If you adored this post and you would like to obtain more info relating to Grand_Couturier kindly browse through our website. Silk and other accessories fell 7.4 % to 86.Three million euros. Fragrances were up 1.2 % to 89.1 million euros.
In February, throughout Milan Vogue Week, Ferragamo will hold a coed runway show 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 inventive director of the women’s line final October. He succeeded Fulvio Rigoni.