Salvatore Ferragamo Sees Revenues Fall In Q4
Salvatore Ferragamo SpA noticed preliminary 2017 revenues decline 3.1 % to 1.34 billion euros, or $1.66 billion at present change, compared with 1.43 billion euros in 2016. At fixed exchange charges, gross sales have been down 1.4 p.c.
Revenues in the final quarter decreased eight.Four %, penalized by the currencies development and by decrease promotional sales in the first personal-retail channel, thanks to better management of inventories, stated the Florence-based mostly group.
Related Why Paul Andrew Was Just Promoted at Ferragamo
As of Dec. 31, the group’s retail community comprised 685 factors of sales, including 410 directly operated stores and 275 third-get together operated shops. Within the 12 months ended Dec. 31, the ferragamo sale in singapore retail channel was down 0.Eight p.c to 905.3 million euros, representing sixty five p.c of whole revenues. Like-for-like gross sales at fixed alternate were down 1.7 p.c.
The wholesale channel, penalized by destocking activity, the political tensions in South Korea and a strategic rationalization in Japan, decreased 7.4 percent to 465.Three million euros.
The Asia-Pacific area was confirmed as the group’s prime market, representing 36.6 percent of complete revenues. Within the area, gross sales declined 2.1 percent to 510.6 million euros, penalized by the soft development in South Korea, principally resulting from the significant decrease of Chinese language vacationers, and the ongoing adverse performance particularly in Hong Kong. Conversely, the retail channel in China showed continued progress, posting a 2.5 percent uptick, or 7 percent at fixed trade.
Europe was down 3.6 p.c to 351.2 million euros with a constructive performance for the retail channel and a adverse trend for the wholesale business, negatively impacted by the destocking activity.
Gross sales in North America fell four.2 percent to 333.6 million euros, representing 23.9 % of whole gross sales, additionally negatively impacted by the efficiency of department stores.
Japan was down 5.6 percent to 119.5 million euros because of the strategic rationalization of the wholesale channel, while the retail stores ferragamo sale in singapore showed a constructive efficiency at constant trade rates.
Revenues in Central and South America grew 2 p.c, or 6.5 percent at constant alternate, to 78.Three million, regardless of the earthquake in Mexico in September.
By class within the year, footwear sales dropped 3.6 percent to 589.2 million euros, representing 42.3 % of whole sales.
Handbags and leather-based accessories have been down 2.Four % to 516 million euros, accounting for 37 p.c of total gross sales.
Gross sales of ready-to-put on decreased three.9 % to 89.Eight million euros, or 6.Four percent of the total. Silk and different accessories fell 7.4 p.c to 86.Three million euros. Fragrances have been up 1.2 % to 89.1 million euros.
In February, throughout Milan Style 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 creative director and was appointed artistic director of the women’s line final October. He succeeded Fulvio Rigoni.