All Salvatore Ferragamo articles
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ArticleFerragamo’s full-year profits shrink on weaker sales, higher investments
Salvatore Ferragamo’s full-year net profit plummeted by 59 percent to €26 million as total revenues fell by a reported 7.6 percent, and 8.1 percent in local currencies, to €1,157 million, with all categories, channels and regions, except the Europe, Middle East and Africa (EMEA) area, lower. The company had already ...
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ArticleEurope underpins Ferragamo’s sales
Salvatore Ferragamo’s total revenues in the fourth quarter of 2023 fell by 5.6 percent on a reported basis, and by 5.9 percent at constant exchange rates, to €312.5 million, roughly in line with market expectations. During the quarter, net sales, which exclude certain revenues such as licenses, registered a “positive ...
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News briefs
Ferragamo hires a new CFO
Salvatore Ferragamo has appointed Pierre La Tour as chief financial officer (CFO), effective March 18. He is currently CFO of Biesse, an Italian producer of machines to process wood, glass, stone, plastic and metal. La Tour succeeds Alessandro Corsi, who left the Italian fashion group in Sept.30. Corsi had been ...
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News briefs
Ferragamo takes full control of 3 Chinese joint ventures
Salvatore Ferragamo is taking full control of three joint ventures in Greater China by buying out the minority shareholder Imaginex for $42.0 million. Under the transaction, Ferragamo and its subsidiary Ferragamo Hong Kong are acquiring 25 percent stakes in Ferragamo Moda (Shanghai) and Ferrimag and a 24.8 percent stake in ...
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ArticleFerragamo misses sales expecations in Q3
In the third quarter of 2023, Salvatore Ferragamo’s sales fell by 16 percent to €244 million euros, about €5 million below the market consensus. Citi noted that the deterioration in third-quarter sales was expected, but stressed that the brand seems to have suffered more than its peers from macroeconomic headwinds. ...
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ArticleThe stocks of footwear companies continued to be under pressure in Q3
The prices of stocks monitored by Shoe Intelligence fell by 7 percent on average in the third quarter of 2023 compared with the previous three months amid ongoing concern about the economic outlook due to weak demand, higher interest rates and stubborn inflation. In the second quarter, the panel was ...
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ArticleFerragamo’s sales weakness expected to continue until Q4
After suffering a 4.8 percent decline in total revenues to €600.1 million in the first half due to two consecutive quarterly decreases, Salvatore Ferragamo is expected to experience another weak third quarter before showing signs of recovery in the final three months of the year, according to Paola Carboni, financial ...
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News briefs
Salvatore Ferragamo CFO to leave in September
Salvatore Ferragamo’s chief financial officer Alessandro Corsi has resigned and will leave the Italian fashion house on Sept. 30 to ”take on a new professional challenge.” The company has yet to announce a replacement. Corsi has been with Ferragamo for 20 years, starting as head of business development and e-commerce. ...
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ArticleFerragamo posts weak Q1 sales as its relaunch remains uncertain
As expected by financial analysts, Salvatore Ferragamo released weak sales figures for the first quarter of 2023, down by 4.0 percent to €278.0 million. At constant currency rates, the decline reached 6.5 percent year-over-year. The contribution Maximilian Davis, who became the creative director of the Italian fashion house on March ...
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ArticleFerragamo warns that inflation may further erode margins in 2023
Salvatore Ferragamo warned that its 2023 operating margins could be slightly lower than last year due to higher costs, which could put pressure on the stock price of the Italian fashion house which is already trading at lofty multiples. The average target price for financial analysts is around €16.14 compared ...
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ArticleFerragamo posts weak Q4 sales due to China
Salvatore Ferragamo’s total full-year revenues reached €1.252 billion, up by 10.2 percent year-on-year on a reported basis and by 5.7 percent at constant currency rates. Total revenues were dented by a €25.7 million hedging loss and missed market expectations by about €20 million due to a weak final quarter. The ...
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ArticleStocks of U.S. footwear companies rebound in Q4
Trading remained very volatile in the fourth quarter of 2022 with the various clusters of our universe of stocks often fluctuating significantly compared with the previous three months. Overall, Shoe Intelligence’s selection of stocks continues to trend water, rising by just over 2 percent on average. Shares of Brazilian footwear ...
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ArticleGolden Goose ranks among the fastest growing luxury goods brands
Golden Goose, the Italian producer of luxury sneakers, ranked third among the 20 fastest growing luxury goods companies over the past three years, according to Deloitte’s report Global Powers of Luxury Goods 2022. In the 2021 fiscal year, Golden Goose’s estimated revenues were $456 million, up by 45.0 percent from ...
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ArticleEurope drives Ferragamo’s sales higher
Salvatore Ferragamo reported a growth in sales and profits in the first nine months of 2022, thanks to a positive performance in both distribution channels and a strong increase in revenues in the Europe, Middle East and Africa (EMEA) business region. The Italian fashion house posted a 17.2 percent rise ...
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ArticleFerragamo beats expectations despite slowdown in China
Salvatore Ferragamo beat expectations in the first half of 2022 with a 17 percent surge in revenues, at constant exchange rates, to €630.3 million, versus analysts’ estimates of €621 million, according to a consensus compiled by Reuters. The operating profit totaled €95.4 million in the six months ended June 30, ...
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News briefs
Ferragamo partners with Farfetch
Salvatore Ferragamo has entered into a partnership with Farfetch as part of its plan to widen its audience and engage with younger consumers. The commercial agreement will enable Ferragamo to benefit from a global audience through Farfetch Marketplace and benefit from the services of Farfetch Media Solutions. Marco Gobbetti, Ferragamo’s ...
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ArticleFerragamo to double revenues by 2026
Salvatore Ferragamo is targeting €2.3 billion in revenues by 2026, doubling sales thanks to a three-year investment plan of €400 million, as well as “significantly” boost its operating profit. The Italian leather goods maker is also trying to reduce its dependence on the Chinese market, where it achieved 30 percent ...
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News briefs
Ferragamo hires a new creative director
Salvatore Ferragamo has appointed Maximilian Davis, 25, as its creative director, effective March 16. Born in Manchester, he graduated from the London College of Fashion and founded his eponymous brand in 2020. Davis takes over from Paul Andrew who held the job from 2019 to March 2021. Andrew last worked ...
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ArticleFerragamo is back in black
Salvatore Ferragamo swung into a profit in 2021 as it recovered from the loss caused in 2020 by the Covid-19 pandemic but the company did not provide a guidance for the current year due to an “unpredictable” outlook. The broker Equita noted that the company, which had already released its ...
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ArticleFerragamo Q4 sales up by nearly 21%
Salvatore Ferragamo reported preliminary results that showed that fourth-quarter sales increased by 20.8 percent year-over-year to €350.2 million, thanks to a strong contribution from North America and its digital channel. At constant currency rates, revenues were up by 23.5 percent. Analysts at the broker Websim said the Italian fashion house’s ...
