Tag: $Salvatore Ferragamo

Salvatore Ferragamo said it remains cautious on its short-term expectations amid uncertain demand for high-end goods and after it reported a net loss for 2024.

Salvatore Ferragamo shares plunged after the Italian luxury-goods company said it was parting ways with its chief executive before the end of his mandate, after a year marked by slowing sales as the industry grappled with sluggish demand for luxury goods.

Revenues at Italian luxury group Salvatore Ferragamo  fell 16.6% at constant exchange rates in the first quarter, with China proving difficult and amid a general slowdown in sales in all geographies and channels.

Sales at Salvatore Ferragamo continued to weaken year-on-year in January after dragging operating profit down 44% profit in 2023, but stabilised in February, the chief executive of the Italian luxury goods group said on Wednesday.