Gross sales at Italian luxurious group Salvatore Ferragamo fell 16.6 p.c at fixed trade charges within the first quarter, the corporate mentioned on Thursday.
“Over the quarter, our efficiency was impacted by continued volatility within the Chinese language market, in addition to a persisting weak spot in wholesale and journey retail, additional compounded by an unfavourable comparability,” chief government Marco Gobbetti mentioned in an announcement.
Revenues totalled 227 million euros ($244.5 million), beneath analyst expectations of 237 million euros in accordance a LSEG consensus.
By Elisa Anzolin, modifying by Gianluca Semeraro
Study extra:
Ferragamo CEO Warns Turnaround May Take Longer After 2023 Sales Drop
Gross sales at Italian luxurious items group Salvatore Ferragamo dropped by 8.1 p.c at fixed currencies final 12 months, prompting chief government Marco Gobbetti to warn that hitting turnaround objectives may take longer than anticipated.
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