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Salvatore Ferragamo reports H1 FY20 revenue of €377 mn

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Salvatore Ferragamo, a luxury goods company, approved its financial result for first half (H1) FY20 ended on June 30, 2020. Revenue for the six months period fell 46.6 per cent to €377 million compared to revenue of €705 million in the same period previous fiscal. Company incurred a net loss of €86 million compared to net profit of €60 million in H1 FY19.

 

Gross profit for H1 FY20 was €225.9 million (H1 FY19: €456.8 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 41.0 per cent to €260.6 million (€441.6 million). Whereas, wholesale revenue plunged 56.4 per cent to €110.8 million (€254.3 million).

 

Due to store closures in several parts of the world, company’s revenue in all its geographic area declined during the six months period: Europe €85.7 million (€177.6 million); North America €69.7 million (€152.8 million); Japan €36.8 million (€58.9 million); Asia Pacific €166.7 million (€277.2 million); and Central & South America €17.3 million (€38.2 million).

 

During H1 FY20, footwear sales dropped 46.4 per cent to €159.4 million (€297.2 million). While for leather goods, sales slipped 43.6 per cent to €158.5 million (€280.9 million). Apparel sales decreased 47.3 per cent to €19.0 million (€36.2 million).

Fibre2Fashion News Desk (JL)

Salvatore Ferragamo, a luxury goods company, approved its financial result for first half (H1) FY20 ended on June 30, 2020. Revenue for the six months period fell 46.6 per cent to €377 million compared to revenue of €705 million in the same period previous fiscal. Company incurred a net loss of €86 million compared to net profit of €60 million in H1 FY19.



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