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Salvatore Ferragamo Sees Revenues Fall In Q4

Salvatore Ferragamo SpA saw preliminary 2017 revenues decline 3.1 percent to 1.34 billion euros, or $1.Sixty six billion at current change, compared with 1.Forty three billion euros in 2016. At fixed exchange rates, gross sales had been down 1.4 %.

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Revenues in the final quarter decreased eight.Four percent, penalized by the currencies pattern and by decrease promotional sales in the primary personal-retail channel, thanks to higher control of inventories, stated 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, together with 410 directly operated stores and 275 third-celebration operated stores. ferragamo slides womens In the 12 months ended Dec. 31, the retail channel was down 0.Eight percent to 905.Three million euros, representing sixty five percent of total revenues. Like-for-like sales at constant alternate were down 1.7 %.

The wholesale channel, penalized by destocking activity, the political tensions in South Korea and a strategic rationalization in Japan, decreased 7.4 % to 465.Three million euros.

The Asia-Pacific area was confirmed because the group’s prime market, representing 36.6 % of whole revenues. In the area, gross sales declined 2.1 percent to 510.6 million euros, penalized by the smooth trend in South Korea, largely on account of the significant lower of Chinese vacationers, and the continued damaging performance specifically in Hong Kong. Conversely, the retail channel in China confirmed continued development, posting a 2.5 p.c uptick, or 7 % at fixed exchange.

Europe was down 3.6 percent to 351.2 million euros with a constructive performance for the retail channel and a unfavorable pattern for the wholesale business, negatively impacted by the destocking exercise.

Gross sales in North America fell 4.2 % to 333.6 million euros, representing 23.9 % of whole sales, also negatively impacted by the efficiency of department shops.

Japan was down 5.6 % to 119.5 million euros due to the strategic rationalization of the wholesale channel, while the retail shops confirmed a optimistic performance at fixed trade rates.

Revenues in Central and South America grew 2 p.c, or 6.5 % at fixed exchange, to 78.3 million, despite the earthquake in Mexico in September.

By class within the yr, footwear sales dropped three.6 p.c to 589.2 million euros, representing 42.Three % of whole gross sales.

Handbags and leather-based accessories were down 2.Four % to 516 million euros, accounting for 37 % of total gross sales.

Gross sales of prepared-to-wear decreased 3.9 percent to 89.Eight million euros, or 6.4 p.c of ferragamo slides womens the whole. If you loved this short article and you would like to receive additional facts concerning Grand_Couturier kindly check out our own site. Silk and different accessories fell 7.4 p.c to 86.3 million euros. Fragrances have been up 1.2 p.c to 89.1 million euros.

In February, throughout Milan Trend 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 show will mark the rtw debut of Andrew, who was previously women’s footwear artistic director and was appointed creative director of the women’s line final October. He succeeded Fulvio Rigoni.