×
Advertisements

Ferragamo H1 sales fall 2 pct as margins inch higher

By
Reuters
Published
today Aug 2, 2016
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Italian luxury goods maker Salvatore Ferragamo said on Tuesday revenues fell 2 percent in the first six months, weighed down by sales in its two core markets of Europe and Asia.

Salvatore Ferragamo - Spring-Summer2017 - Menswear - Milan - © PixelFormula


Sales in the period came in at 710 million euros ($797 million), just below a Thomson Reuters estimate of 716 million euros.

At constant exchange rates sales were down over 3 percent compared to the same period last year.

Revenues fell over 3 per cent in Europe - an area which accounts for over a quarter of the luxury designers sales - and was down almost 4 percent in the Asia Pacific area - which weighs for over a third of sales of its shoes, bags and leather accessories.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) nudged up 1 percent in the first six months of the year to 166 million euros, slightly below the 168 million euros estimated by Thomson Reuters.
($1 = 0.8913 euros)

 

© Thomson Reuters 2020 All rights reserved.