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Ferragamo aims to double sales mid-term but warns of China hit
Abstract：(Reuters) – Revenues at Italian luxury group Salvatore Ferragamo beat market forecasts in the first quarter despite a decline in retail sales in China because of new COVID-19 restrictions, and the group said it expected to double sales in the medium term.
div classBodysc17zpet90 cdBBJodivpReuters – Revenues at Italian luxury group Salvatore Ferragamo beat market forecasts in the first quarter despite a decline in retail sales in China because of new COVID19 restrictions, and the group said it expected to double sales in the medium term. p
pThe leather goods maker, famous for making shoes for Hollywood stars such as Audrey Hepburn, said sales had risen by pdivdivdiv classBodysc17zpet90 cdBBJodiv
p21 at constant exchange rates in the first quarter to 289 million euros 304.72 million – above an analyst average estimate of 273 million euros. p
pOperating profit totalled 24 million euros from 7 million euros a year earlier.p
p
pp Reporting by Claudia Cristoferi, editing by Silvia Aloisip
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