Companies

Ferragamo: sales near pre-COVID levels

Sep 9, 2021 Italy

The Italy-based luxury house reported that in July and August its retail sales were close to levels recorded before the outbreak of the COVID-19 pandemic, after returning to operating profit in the first half of 2021

"The months of July and August are continuing to show a solid growth in revenue in directly operated stores in the United States, China, South Korea and Latin America, vs. the same period of 2019. The worldwide retail performance is therefore close to pre-COVID levels", it can be read on the statement issued by Ferragamo.

Consolidated Revenue

As of the 30^th of June 2021 the Salvatore Ferragamo Group reported total revenue of 524 million euros, up by 44.2% at current exchange rates (+46.2% at constant exchange rates), which compares to 363 million euros recorded in the first half of 2020. Revenue in the second quarter of 2021 registered a 91.3% increase at current exchange rates (+90.5% at constant exchange rates).

The increase in revenue has been achieved despite the permanence, in some countries, of lockdowns of the commercial activities, bans and restriction on international traffic, due to the COVID-19 pandemic. At the 30^th of June 2021, Ferragamo was operating with 53% of retail stores at full capacity.

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