Salvatore Ferragamo, an Italy-based luxury goods company, has reported 10.3 per cent revenue growth to €244.6 million in its first quarter (Q1) of FY21 ended on March 31, 2021, compared to revenue of €221.7 million in the same period of previous fiscal. The company’s net loss for the quarter reduced to €0.6 million (Q1 FY20: €41.4 million).
Salvatore Ferragamo, an Italy-based luxury goods company, has reported 10.3 per cent revenue growth to €244.6 million in its first quarter (Q1) of FY21 ended on March 31, 2021, compared to revenue of €221.7 million in the same period of previous fiscal. The company's net loss for the quarter reduced to €0.6 million (Q1 FY20: €41.4 million). #
Gross profit for Q1 FY21 rose to €157.0 million (€130.2 million), while operating profit amounted to €7.4 million (operating loss: €36.3 million). EBITDA escalated to €47.7 million (€11.5 million). Revenue of retail channel during the three-month period improved 17.2 per cent to €166.7 million (€142.2 million), whereas revenue from wholesale channel marginally dropped 0.7 per cent to €75.8 million (€76.4 million).
Salvatore Ferragamo, an Italy-based luxury goods company, has reported 10.3 per cent revenue growth to €244.6 million in its first quarter (Q1) of FY21 ended on March 31, 2021, compared to revenue of €221.7 million in the same period of previous fiscal. The company's net loss for the quarter reduced to €0.6 million (Q1 FY20: €41.4 million). #
During the first quarter, sales of footwear jumped 8.0 per cent to €99.2 million (€91.8 million), and leather goods sales surged 18.2 per cent to €106.8 million (€90.3 million). The company’s apparel category recorded 3.9 per cent decline to €12.4 million (€12.9 million).
Salvatore Ferragamo, an Italy-based luxury goods company, has reported 10.3 per cent revenue growth to €244.6 million in its first quarter (Q1) of FY21 ended on March 31, 2021, compared to revenue of €221.7 million in the same period of previous fiscal. The company's net loss for the quarter reduced to €0.6 million (Q1 FY20: €41.4 million). #
Geographically, Salvatore Ferragamo’s revenue 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 News Desk (JL)
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