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Salvatore Ferragamo Sees Revenues Fall In Q4

Salvatore Ferragamo SpA saw preliminary 2017 revenues decline three.1 % to 1.34 billion euros, or $1.Sixty six billion at present alternate, compared with 1.Forty three billion euros in 2016. At fixed change rates, gross sales were down 1.4 %.

Revenues within the last quarter decreased eight.4 p.c, penalized by the currencies pattern and by lower promotional gross sales in the first personal-retail channel, thanks to higher management of inventories, said the Florence-based group.

Related Why Paul Andrew Was Simply Promoted at Ferragamo
As of Dec. 31, the group’s retail community comprised 685 points of gross sales, including 410 instantly operated shops and 275 third-party operated stores. Within the 12 months ended Dec. 31, the retail channel was down zero.8 % to 905.3 million euros, representing sixty five percent of complete revenues. Like-for-like sales at fixed alternate were down 1.7 p.c.

The wholesale channel, penalized by destocking exercise, the political tensions in South Korea and a strategic rationalization in Japan, decreased 7.Four percent to 465.3 million euros.

The Asia-Pacific area was confirmed as the group’s top market, representing 36.6 percent of total revenues. In the region, gross sales declined 2.1 percent to 510.6 million euros, penalized by the mushy pattern in South Korea, mostly attributable to the numerous lower of Chinese language tourists, and the ongoing damaging performance specifically in Hong Kong. Conversely, the retail channel in China confirmed continued growth, posting a 2.5 % uptick, or 7 percent at constant exchange.

Europe was down three.6 p.c to 351.2 million euros with a constructive performance for the retail channel and a adverse pattern for the wholesale business, negatively impacted by the destocking activity.

Sales in North America fell four.2 % to 333.6 million euros, representing 23.9 percent of total sales, additionally negatively impacted by the performance of department shops.

Japan was down 5.6 % to 119.5 million euros because of the strategic rationalization of the wholesale channel, while the retail shops confirmed a optimistic efficiency at constant exchange rates.

Revenues in Central and South America grew 2 percent, or 6.5 % at constant change, to 78.3 million, regardless of the earthquake in Mexico in September.

By category within the 12 months, footwear gross sales dropped 3.6 % to 589.2 million euros, representing forty two.Three % of total sales.

Handbags and leather equipment have been down 2.4 % to 516 million euros, accounting for 37 % of total gross sales.

Sales of prepared-to-wear decreased three.9 percent to 89.8 million euros, or 6.Four p.c of the whole. Silk and different accessories salvatore ferragamo leather trimmed sunglasses fell 7.4 p.c to 86.3 million euros. Fragrances have been up 1.2 p.c to 89.1 million euros.

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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 present 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.

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