Salvatore Ferragamo's footwear sales rose by 34.2 percent to €302.07 million in the first nine months of the year as group revenues booked double-digit growth rates worldwide except in Japan. On a currency-neutral basis, shoe sales were up by 32.8 percent.
Total sales went up by 27.6 percent to €701.3 million, but at constant currencies, the growth reached 26.0 percent. Sales of leathergoods, the group's second-largest product line, rose by 28.5 percent to €216.1 million. Overall, shoes and leathergoods increased their share of sales to 73.9 percent from 71.5 percent a year earlier.
Sales in Europe were up by 29.3 percent to €180.6 million. North American sales gained 31.1 percent to €153.9 million, Japan rose by 1.7 percent to €91.6 million, Asia-Pacific sales, excluding Japan, were up by 36.0 percent to €248.6 million and Central and South America increased by 33.3 percent to €26.7 million. Japanese sales were affected by the earthquake that hit the country on March 11. At constant currency rates, Japanese sales were down by 2.9 percent.
Asia-Pacific sales were supported by growth in mainland China, while European sales were underpinned by tourist traffic. Greater China continues to rank as the group's largest market. The Latin American market was supported by Mexico, which ranks as the group's seventh-largest market.
Wholesale revenues increased by 38.1 percent to €228.0 million and retail revenues were up by 23.8 percent to €461.9 million. Same-store sales were up by 18.7 percent. At the end of September, the group's retail network included 317 directly operated stores and 268 stores run by third parties.
Consolidated gross margin rose to 64.0 percent from 62.6 percent. The Ebitda margin widened to 18.9 percent from 14.4 percent and the Ebit margin increased to 16.1 percent from 10.7 percent. The net profit rose to €78.3 million from €42.3 million.
Financial analysts expect the company to finish the full-year with sales of nearly €960 million and net profits of more than €75 million.