Luxurious Group Ferragamo’s December Sale Better Than Expected – CEO
MILAN (Reuters) – Italian luxury group Salvatore Ferragamo’s (SFER.MI) December gross sales outpaced its expectations attributable to growth in all of its markets, Chief Government Michele Norsa stated on Sunday.
Norsa additionally stated a stronger U.S. If you beloved this article and you simply would like to receive more info regarding S&P/MIB i implore you to visit our own web site. dollar and falling prices for uncooked materials should assist efficiency in 2015 though volatility would probably proceed to affect shopper traits.
“We closed 2014, which was an eventful yr, with lots of volatility, with a really strong finish of the year,” he told reporters at the Milan inventory trade the place Ferragamo showcased its Fall/Winter 2015 men’s collection.
Sales in December posted “a very satisfactory efficiency, even higher than our expectations”, he stated.
In November, Ferragamo said it expected gross sales in the final quarter of 2014 to develop at the very least in line with the first 9 months, permitting it to match its 2013 core profit margin in the total 12 months.
Gross sales at Ferragamo rose 4.6 p.c at present alternate charges in the primary 9 months of 2014 to 956.6 million salvatore ferragamo men shoes salvatore ferragamo men shoes euros (730.46 million pounds). They have been up 6 % at constant currencies.
Norsa dismissed issues about consumer price tendencies in the euro zone, where inflation in December turned damaging for the first time since 2009.
“We’ve been residing in the past years with inflation beneath 2 p.c. Now, between 0.5 and 1.2 p.c the difference isn’t that relevant. I believe what is more necessary is shopper confidence,” he mentioned.
He pointed to the upper quantity of visitors to the current Pitti Uomo menswear commerce truthful in Florence. Pitti Uomo drew 15 percent extra buyers this year in contrast with 2014, based on organisers.
Travel retail would proceed to drive progress in 2015, he added. The Florentine group has the highest exposure in its sector to travellers spending in locations similar to airports.