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Luxury Group Ferragamo’s December Sale Higher Than Anticipated – CEO

MILAN (Reuters) – Italian luxury group Salvatore Ferragamo’s (SFER.MI) December sales outpaced its expectations resulting from development in all of its markets, Chief Executive Michele Norsa said on Sunday.

Norsa additionally said a stronger U.S. If you cherished this article and you also would like to acquire more info with regards to S&P/MIB nicely visit our web-site. greenback and falling prices for raw supplies ought to assist performance in 2015 though volatility would doubtless continue to affect client trends.

“We closed 2014, which was an eventful 12 months, with a lot of volatility, with a very robust end of the yr,” he instructed reporters on the Milan stock exchange the place Ferragamo showcased its Fall/Winter 2015 men’s collection.

Gross sales in December posted “a very satisfactory efficiency, even better than our expectations”, he said.

In November, Ferragamo said it expected sales in the final quarter of 2014 to grow not less than according to the primary ferragamo snow boots nine months, permitting it to match its 2013 core profit margin in the complete yr.

Sales at Ferragamo rose four.6 percent at current trade rates in the first nine months of 2014 to 956.6 million euros (730.46 ferragamo snow boots million pounds). They were up 6 percent at constant currencies.

Norsa dismissed considerations about client price traits in the euro zone, the place inflation in December turned unfavorable for the primary time since 2009.

“We’ve been living previously years with inflation under 2 percent. Now, between zero.5 and 1.2 % the difference shouldn’t be that related. I imagine what’s extra necessary is consumer confidence,” he stated.

He pointed to the upper number of holiday makers to the latest Pitti Uomo menswear commerce truthful in Florence. Pitti Uomo drew 15 % extra consumers this year compared with 2014, according to organisers.

Journey retail would continue to drive growth in 2015, he added. The Florentine group has the highest publicity in its sector to travellers spending in places corresponding to airports.