Uso de cookies Utilizamos cookies propias y de terceros para mejorar nuestros servicios y mostrarle publicidad relacionada con sus preferencias mediante el análisis de sus hábitos de navegación. Si continúa navegando, consideramos que acepta su uso. Puede obtener más información sobre nuestra: Política de cookies

The global fashion business journal

23 Sep 201905:18

Salvatore Ferragamo shrinks profit by 21% and sales down 3.3% in 2018

The Italian group registered a revenue of 1.34 billion euros in its last fiscal year, while its net profit stood at 90.1 million euros.

13 Mar 2019 — 18:58
MDS
Save

Salvatore Ferragamo shrinks profit by 21% and sales down 3.3% in 2018

 

 

Salvatore Ferragamo closes another year in a downwards trend. The Italian luxury brand concluded fiscal year 2018 (ended on December 31) with a net profit of 90.1 million euros, which represents a fall of 21.1% compared to 114.2 million euros registered in 2017.

 

The company, led by Micaela Le Divelec Lemmi, stood its operating profit in 149.7 million euros, 19.5% less than one year ago. Pre-tax profit fell by 21.6%, to 135.9 million euros.

Salvatore Ferragamo, as it announced last January, closed the fiscal year with 1.34 million euros in sales, 3.3% less than in 2017, due to the drop of the revenue in all its markets.

 

 

 

 

By geographical areas, the group’s sales in Europe were reduced by 6.1% in 2018, to 329.7 million euros. In North America, Salvatore Ferragamo’s revenue stood at 315.6 million euros, 5.4% less. In Asia-Pacific, excluding Japan, the company registered a 505.5 million euros income, 1% less.

 

Salvatore Ferragamo had a revenue of 119 million euros in Japan, 0.4% less than in 2017. Finally, in Latin America, sales of the company fell by 1.9%, to 76.8 million euros.

By product category, footwear generated 554.7 million euros, 5.9% less than in 2017. In contrast, leather goods, which is the second most important business segment of the company, recorded 521.4 million euros in 2018, 1% more. Salvatore Ferragamo also registered an increase of 5.6% in perfume sales, up to 94.1 million euros.

 

The company’s clothing business was the one with the worst performance, with sales of 76.4 million euros, 14.9% less. As for accessories, the decrease was more moderate, sales fell by 8.5% to 78.9 million euros. In licenses and services, the revenue decreased by 6.2% to 9.5 million euros.

Comment
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...