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Sep 6, 2022
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Ferragamo sales beat forecasts in H1 despite slowdown in China

By
Reuters API
Published
Sep 6, 2022

Revenues at Italian luxury group Salvatore Ferragamo grew above market forecasts in the first half of the year despite a slight slowdown in the second quarter due to COVID-19 restrictions in China.




Underpinned by sound growth in Europe and United States, sales rose by 17% at constant exchange rates to 630 million euros ($624 million) in the six months to the end of June, versus an analyst average estimate of 621 million euros, according to a Reuters poll.

Group operating profit totalled 95 million euros in the first six months of 2022 from 66 million euros a year earlier. Analysts had expected 83 million euros of EBIT.
 

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