Revenue continues to decline at Ferragamo
14/11/2018
Net profit for this period was down 17.5% to €65 million.
This came despite a strong third quarter (three months ended September 30), during which its revenue increased 2.5% year-on-year.
In terms of product categories, footwear posted a 4.3% decrease in revenue during the first three quarters, while handbags and leather accessories showed an increase of 3.4%.
Asia Pacific remains Ferragamo’s most important market in terms of revenue. This region’s sales were stable during the first nine months of the year. There were declines in revenue in a number of other regions, including Europe (-5.2%), North America (-1.2%) and Japan (-1.7%).
Earlier this year, Ferragamo appointed former Gucci executive Micaela Le Divelec as its new chief executive officer. She replaced Eraldo Poletto, who had stepped down from the role in March after just 18 months.
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