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Ferragamo’s Sales Fall 20% in Fourth Quarter

New lockdowns in Europe more than offset a strong rebound in China for the Italian group.

Salvatore Ferragamo Fall/Winter 2014. Salvatore Ferragamo.

Reuters

28 January 2021

Sales at Italian fashion group Salvatore Ferragamo fell by 20 percent in the fourth quarter, broadly in line with expectations, as new lockdowns to fight a resurgence of Covid-19 in Europe more than offset a strong rebound in China.

Full-year sales plunged by a third to 916 million euros ($1.1 billion), compared with a SmartEstimate consensus estimate of 911 million euros provided by Refinitiv.

By Claudia Cristoferi, editing by Silvia Aloisi

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