Salvatore Ferragamo Q3 FY20 sales fall 38.5% to €611 mn

Salvatore Ferragamo, a luxury goods company, has reported 38.5 per cent revenue decline to €611.2 million in its third quarter (Q3) FY20 that ended on September 30, 2020 compared to revenue of €994.4 million in the same period previous fiscal. Company incurred a net loss of €96.1 million compared to net profit of €61.4 million in Q3 FY19.

 

Gross profit for Q3 FY20 was €367.6 million (Q3 FY19: €644.1 million). The operating loss for the quarter was registered of €74.4 million compared to the operating profit of €93.9 million in H1 FY19.

 

Retail revenue for the period came down 35.3 per cent to €415.9 million (€643.3 million). Whereas, wholesale revenue plunged 44.5 per cent to €187.9 million (€338.7 million).

 

During Q3 FY20, footwear sales dropped 39.7 per cent to €253.1 million (€419.9 million). While for leather goods, sales slipped 33.8 per cent to €259.8 million (€392.3 million). Apparel sales decreased 39.2 per cent to €32.2 million (€53.0 million).

 

Revenues in all the geographic areas for the nine month period were down: Europe sales fell 45.0 per cent to €142.4 million (€258.2 million), North America sales dipped 45.1 per cent to €120.5 million (€219.7 million), Japan sales decreased 30.9 per cent to €60.2 million (€87.1 million), Asia Pacific sales dropped 30.6 per cent to €258.7 million (€373.0 million) and Central and South America sales plunged 47.5 per cent to €29.2 million (€55.7 million).

Fibre2Fashion News Desk (JL)

Salvatore Ferragamo, a luxury goods company, has reported 38.5 per cent revenue decline to €611.2 million in its third quarter (Q3) FY20 that ended on September 30, 2020 compared to revenue of €994.4 million in the same period previous fiscal. Company incurred a net loss of €96.1 million compared to net profit of €61.4 million in Q3 FY19.

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