The Salvatore Ferragamo Group, in its preliminary outcomes assertion for fiscal yr 2017 stated that complete consolidated revenue amounted to 1,393 million euros (1,728.9 million dollars), down 3.1 p.c at current exchange and 1.Four % at constant trade rates against FY16. Revenues within the fourth quarter, the company stated, registered a lower of eight.4 p.c or 5.1 p.c at constant alternate, penalized by the currencies development and by the decrease incidence of promotional gross sales in the first channel against last yr.
As of December 31, 2017, the group’s retail network consisted of 685 factors of sales, including 410 immediately operated shops (DOS) and 275 third get together operated stores (TPOS) within the wholesale and journey retail channel, as properly because the presence in malls and multi-model specialty shops. In FY17 the retail distribution channel posted 0.8 p.c decline in consolidated revenues but revenues rose 1.3 p.c at fixed exchange rates, with a lower of 1.7 percent at fixed change rates and like-for-like sales. The wholesale channel, the company added, penalized by the destocking activity, the political tensions in South Korea and the strategic rationalization in Japan, registered a decrease in revenues of 7.Four percent at current alternate and 6.2 % at constant exchange rates.
Geographical review of Ferragamo’s results
The corporate stated, Asia Pacific area is confirmed because the group’s high market by way of revenues, decreasing by 2.1 p.c or 0.4 % at fixed exchange charges, penalized by the soft pattern in South Korea, mostly on account of the significant lower of Chinese language tourists, and the on-going unfavorable performance in Hong Kong. However the retail channel in China reported a 2.5 % or 7 % revenue development in FY17.
Revenues in Europe decreased three.6 percent or three p.c at fixed exchange rates, with a constructive performance for the retail channel and a damaging pattern for the wholesale enterprise, negatively impacted by the destocking exercise. North America recorded a income lower of four.2 % or 2.2 percent at constant change charges, additionally negatively impacted by the department stores sales. The Japanese market registered a 5.6 % or 3.1 % decrease at fixed exchange rates, due to rationalization of the wholesale channel, whereas the retail shops recorded a optimistic efficiency at constant change charges. Revenues in the Central and South America grew by 2 p.c or 6.5 % at constant change rates.