×
1 656
Fashion Jobs
TJX CANADA
IT Finance & Fixed Assets Manager
CDI · Mississauga
TJX CANADA
Loss Prevention Security Monitoring Operator
CDI · Mississauga
ESTÉE LAUDER
Associate Consultant - Clinique - Calgary, ab
CDI · Calgary
ADIDAS
Senior Analyst, Business Process Management
CDI · Vaughan
LEVI'S
Full-Time Sales & Merchandising Supervisor, Levi’s®, Sherway Gardens, Canada
CDI · Toronto
TJX CANADA
Loss Prevention Store Investigator -Scarborough - York - Richmond Hill
CDI · Mississauga
TJX COMPANIES
Senior IT Security Vulnerability Analyst
CDI · Mississauga
NORDSTROM
Asset Protection - Agent - One Bloor Rack
CDI · Toronto
TJX CANADA
District Manager, Gta
CDI · Mississauga
TJX CANADA
Loss Prevention, Store Investigator - Gta
CDI · Mississauga
TJX CANADA
Loss Prevention Regional Orc Investigator - Calgary
CDI · Calgary
L'OREAL GROUP
Project Coordinator - Merchandising And Education
CDI · Montréal
ESTÉE LAUDER
Associate Consultant - Clinique - Halifax, ns
CDI · Halifax Regional Municipality
TJX CANADA
Summer Term Finance Analyst cO-Op
CDI · Mississauga
ESTÉE LAUDER
Consultant - Clinique - 28 Hrs - Hudson's Bay Market Mall - Calgary, ab
CDI · Calgary
ESTÉE LAUDER
Consultant - Clinique - 28 Hrs - Hudson's Bay Market Mall - Calgary, ab
CDI · Calgary
ADIDAS
Director of Sales - Adidas Golf
CDI · Vaughan
TJX CANADA
Distribution Services Purchasing Specialist
CDI · Mississauga
TJX CANADA
Loss Prevention Store Investigator - Vancouver
CDI · Vancouver
TJX CANADA
Buyer ii
CDI · Mississauga
TJX CANADA
Loss Prevention Systems Remote Investigator
CDI · Mississauga
ESTÉE LAUDER
Manager, Finance & Business Management
CDI · Toronto
Published
May 15, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ferragamo sees Q1 sales, profit swing back to growth

Published
May 15, 2019

Italy’s luxury shoemaker Salvatore Ferragamo saw a return to growth the first quarter of 2019, after total revenues increased on the back of retail and wholesale revenues and surging sales growth in China.

Salvatore Ferragamo - Fall-Winter2019 - Womenswear - Milan - © PixelFormula


Total revenues grew 4.3% at current exchange rates to 317 million euros ($355.4 million) and adjusted core profit (EBITDA) totaled 34 million euros compared with 32 million a year ago.

Analysts had expected 315 million in sales and 34 million in earnings before interest, tax, depreciation and amortization, according to Reuters.

Revenue growth was driven by the retail distribution channel, up 3.9%, while wholesale revenues also returned to growth, supported by airport shops, up 5.5%.

The Asia Pacific region was the group's top market in terms of revenues, increasing by 7.2%, with China driving the uptick, increasing 21.2%.

Europe posted an increase of 2.8%, with a positive performance in both distribution channels, while North America recorded stable revenues, down 0.7% at constant exchange rates.

The Japanese market registered an increase of 2.1%, while Central and South America sales surged 13.8%, said the company on Tuesday.

The group's  footwear posted an increase of 7.3% and handbags and leather accessories were up 8.7%. Fragrances registered a 24.3% decrease, mainly due to a different timing in products’ launches, said the firm.

Tuesday's earnings announcement comes after an unsteady 12 months for the Italian brand. With her recent appointment to CEO in July, Ferragamo's new Chief Executive Micaela Le Divelec Lemmi continues to turnaround the heritage brand.

Strategies include attracting more millennials to the brand by homing in on digital communication and distribution without forsaking the brand's traditional customer base.

She arrived at Ferragamo last April, after working for fellow Italian icon Gucci.

Copyright © 2022 FashionNetwork.com All rights reserved.