Excellent results for the Salvatore Ferragamo Group

15 Nov '11

5 min read

At 30 September 2011 the Retail distribution channel posted consolidated Revenues of 461.9 million Euros, a 23.8% increase over the 373.2 million Euros posted as of 30 September 2010, confirming the growth rate trend already delivered in the first half of 2011. The growth marks a 18.7% increase at constant rates and perimeter in the first nine months of 2011 and a 15.4% increase in 3Q 2011 vs. 3Q 2010, which had already shown a +18.9% vs. 3Q 2009.

The Wholesale and Travel retail channel delivered an excellent performance, growing from 165.1 million Euros, recorded over the first three quarters of 2010, to 228.0 million Euros at 30 September 2011, marking a 38.1% increase (+24.9% in 3Q 2011 vs. 3Q 2010)

All product categories delivered a marked increase in revenues. Especially worth highlighting, the increased revenues in footwear (+34.2%) and in handbags and leather accessories (+28.5%), which represent around 74.0% of Group total turnover.

The Gross Profit, amounting to 448.9 million Euros, recorded a 30.5% growth and accounts for 64.0% of revenues, a substantial improvement over the 62.6% recorded in the first nine months of 2010.

Although unfavourably affected by the significant expenditure incurred in the listing process (about 5 million Euros) and the increased investment in communication activities (+33.4% compared to the same period in 2010), Operating Costs grew by a mere 17.6% reaching 335.8 million Euros and thus improving their incidence on revenues, which decreased from 51.9% to 47.9% in the first nine months.

Salvatore Ferragamo S.p.A., founded in 1927, is the parent company of the Ferragamo Group, one of the major players in the luxury goods industry, which focuses on the creation, manufacture and sale of footwear, leather goods, clothing, silk products, other accessories and perfumes for men and women, all made in Italy. The product range is completed by eyewear and watches, manufactured under licence by third parties in Italy and abroad, in order to make good use of local skills.

Salvatore Ferragamo S.p.A.

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