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Salvatore Ferragamo posts FY19 revenue of €1,377 million

30
Mar '20
Pic: Salvatore Ferragamo
Pic: Salvatore Ferragamo
Salvatore Ferragamo, an Italian luxury goods company, posted 2.3 per cent revenue growth to €1,377 million in full fiscal 2019 ended on December 31, 2019 compared to revenue of €1,347 million in prior fiscal. Gross profit rose 3.7 per cent to €893.49 million compared to €861.98 million in prior fiscal. Net profit grew 1.7 per cent to €91.7 million.
 
However, operating profit in FY19 decline 8.2 per cent to €137.51 million (FY18: €149.76 million). Profit before tax reduced 9.7 per cent to €122.70 million. 
 
Apparel revenue in FY19 fell 2.9 per cent to €74.23 million compared to revenue of €76.47 million prior fiscal. Footwear revenue grew 3.8 per cent to €575.57 million compared to €554.72 million in prior fiscal. Leather goods revenue rose 3.7 per cent to €540.81 million compared to €521.44 million in prior fiscal. 
 
Revenue of Retail sector grew 2.4 per cent in FY19 to €899.48 million (FY18: €878.21 million) compared to prior year. Wholesale channel registered rise of 3.1 per cent to €461.37 million (FY18: €447.53 million). Licenses and services revenue in FY19 jumped 21.8 per cent to €11.59 million (FY18: 9.51 million).
 
Geographically, Europe posted 5.3 per cent increase in revenue to €347.24 million (FY18: 329.71 million). North America revenue rose 0.7 per cent to €317.88 million. However, Japan’s revenue dropped 0.5 per cent to €118.45 million. Asia Pacific reported 1.1 per cent increase in sales to €511.31 million (FY18: €505.54 million), mainly due to 13.8 per cent revenue growth in China. Revenue in Central and South America rose 7.1 per cent to €82.37 million (FY18: €76.87 million).

Fibre2Fashion News Desk (JL)


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