Salvatore Ferragamo revenues decline in 2018

Worldwide
Published:  01 February, 2019
The Gancini by Salvatore Ferragamo

While revenues from the handbags and leather accessories segment were up +2.6% in fiscal 2018, the Italian luxury fashion Group’s preliminary consolidated results for the year show that revenues totalled €1,347 million, down -3.4% at current exchange rates and -1.7% at constant exchange rate, year-on-year.

For the fourth quarter ended December 31, 2018, Salvatore Ferragamo reported a -3.6% decline in revenues, “penalised by the currencies trend” (-1.8% at constant exchange rates), “lower incidence of promotional sales in the primary channel”, lower revenues in the secondary channel and by the “negative trends” of the wholesale business.

In full 2018, revenues in the Asia Pacific region declined -1%, but with “a positive performance” recorded in China. Revenues in EMEA declined -6.1%, while sales revenues in North America and Japan declined -5.4% and -0.4%, respectively. Revenues in Central and South America were down -2.3% in the year.

In terms of product categories in full 2018, at constant exchange rates, revenues from handbags and leather accessories were up +2.6%, year-on-year, while footwear posted a -3.9% decrease.