Salvatore Ferragamo Sees Enchancment in Q3, 9 Months Nonetheless Weak

MILAN – Salvatore Ferragamo Group closed a 3rd quarter that chief government officer Micaela Le Divelec Lemmi characterised as “transitional,” whereas noting that the corporate had “began to see optimistic alerts.”
Throughout a convention name with analysts on Thursday, she admitted the corporate’s outcomes had been “not very a lot constant,” however that they spurred administration to “work tougher to implement our methods within the months forward.”
Within the 9 months ended Sept. 30, the Florence-based luxurious group reported a 17.5 p.c lower in web revenue, together with a minority curiosity, to 65 million euros, in contrast with 79 million euros in the identical interval final yr.
Earnings earlier than curiosity, taxes, depreciation and amortization dropped 7.9 p.c to 149 million euros in contrast with 162 million euros final yr. Within the third quarter, EBITDA elevated 27.four p.c to 32 million euros.
Within the 9 months, working revenue was down 11.four p.c to 102 million euros.
Revenues decreased 3.Three p.c to 972 million euros, in contrast with 1 billion euros within the first 9 months final yr. Within the third quarter, gross sales rose 3.9 p.c to 298 million euros.
Within the 9 months, the retail channel was down 3.2 p.c to 627 million euros, representing 64.5 p.c of the full. Like-for-like revenues had been

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