Salvatore Ferragamo 2023 Net Pft EUR26M [MarketWatch]
SALVATORE FERRAG UNSP/ADR (SFRGY)
NASDAQ:AMEX Investor Relations:
group.ferragamo.com/en/contacts/investor-relations
Company Research
Source: MarketWatch
The Italian maker of luxury footwear and leather goods said Wednesday that earnings before interest and taxes for 2023 dropped around 44% on year to 72 million euros ($78.2 million). The result beat analysts' projections of EUR63 million, according to a FactSet-compiled poll of estimates. Advertisement Net profit fell to EUR26 million from EUR65 million compared with analysts' expectations of EUR25 million, according to FactSet. Salvatore Ferragamo confirmed previously-released sales of EUR1.16 billion, down 8.1% at constant exchange rates, but in line with analysts' prospects. The group is making progress in changes to its product offering while it continues to streamline its network in a context of softening luxury demand, it said. Advertisement "Notwithstanding some impact of the current market backdrop on the timing of our initial assumptions, we continue to pursue our growth ambition, while also protecting profitability through ongoing attention to the quality of sal
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