×
By
Reuters
Published
Nov 14, 2016
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ferragamo's falling Europe sales weigh on 9-mth revenue, core profits

By
Reuters
Published
Nov 14, 2016

Italian luxury group Salvatore Ferragamo posted on Monday a 0.7 percent fall in 9-month core profits, just below expectations, dragged by falling revenues in Europe.


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



Earnings before interest, tax, depreciation and amortisation (EBITDA) were down to 216 million euros ($232 million) in the first nine months of the year, slightly under a SmartEstimate by Thomson Reuters of 220.2 million euros.

Revenues fell 0.7 percent to 1.014 billion euros in the period, both at current exchange rates, just below a Thomson Reuters SmartEstimate of 1.015 billion euros.

Nine-month sales in Europe were down 5 percent compared to the same period in the previous year, mainly due to lower tourist spending. ($1 = 0.9324 euros)

 

© Thomson Reuters 2021 All rights reserved.