Italian agency Salvatore Ferragamo posts Q1 FY21 income of €244 mn

Salvatore Ferragamo, an Italy-based luxurious items firm, has reported 10.3 per cent income progress to €244.6 million in its first quarter (Q1) of FY21 ended on March 31, 2021, in comparison with income of €221.7 million in the identical interval of earlier fiscal. The corporate’s web loss for the quarter decreased to €0.6 million (Q1 FY20: €41.4 million).

 

Gross revenue for Q1 FY21 rose to €157.0 million (€130.2 million), whereas working revenue amounted to €7.4 million (working loss: €36.3 million). EBITDA escalated to €47.7 million (€11.5 million). Income of retail channel through the three-month interval improved 17.2 per cent to €166.7 million (€142.2 million), whereas income from wholesale channel marginally dropped 0.7 per cent to €75.8 million (€76.4 million).

 

Through the first quarter, gross sales of footwear jumped 8.0 per cent to €99.2 million (€91.8 million), and leather-based items gross sales surged 18.2 per cent to €106.8 million (€90.3 million). The corporate’s attire class recorded 3.9 per cent decline to €12.4 million (€12.9 million).

 

Geographically, Salvatore Ferragamo’s income from Europe was €47.3 million (€59.5 million), North America €58.5 million (€53.2 million), Japan €22.0 million (€24.3 million), Asia Pacific €104.5 million (€69.4 million), and Central & South America €12.1 million (€15.2 million).

Fibre2Fashion Information Desk (JL)

Salvatore Ferragamo, an Italy-based luxurious items firm, has reported 10.3 per cent income progress to €244.6 million in its first quarter (Q1) of FY21 ended on March 31, 2021, in comparison with income of €221.7 million in the identical interval of earlier fiscal. The corporate’s web loss for the quarter decreased to €0.6 million (Q1 FY20: €41.4 million).

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