Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Salvatore Ferragamo S.p.A.    SFER   IT0004712375

SALVATORE FERRAGAMO S.P.A.

(SFER)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Salvatore Ferragamo S p A : Italy's Ferragamo warns of slowdown after Q3 sales slip

share with twitter share with LinkedIn share with facebook
share via e-mail
11/12/2019 | 02:12pm EDT
A pair of shoes of Italian luxury shoemaker Salvatore Ferragamo is displayed in the window of the company's store in Zurich

Italian luxury group Salvatore Ferragamo posted a fall in third-quarter revenue that dampened signs of recovery in the first half of the year and warned of further weakness ahead due to the impact of unrest in Hong Kong and a weak U.S. market.

"The slowdown in revenues and operating margins reported in the third quarter 2019 may persist also in the last part of the year," the company said on Tuesday.

In the July-to-September period, total revenue fell by 3.6% at constant exchange rates and closely watched like-for-like retail sales decreased by 0.7%, interrupting growth posted in the previous six months after 10 quarters of falls.

Like other luxury brands, the Hong Kong turmoil severely hit group sales from July onwards and there are no signs of recovery so far, Chief Executive Micaela le Divelec told analysts in a conference call.

In the quarter ended September, Ferragamo's sales in the luxury hub slipped by 45% and industry expectations are that in the medium-term turnover in Hong Kong will stabilise at roughly half of what it was before the protests started, she added.

The former Gucci executive, who has been at the helm of Ferragamo for a little over a year, nevertheless confirmed the group's re-launch strategy, which aims to raise the brand's image and drive like-for-like sales growth.

The higher costs associated with the plan, however, are weighing on profit in the short term and 2020 will also be a year of investments, the group said.

In the nine months, adjusted earnings before interest, tax, depreciation and amortization (EBITDA) declined by 1.5% to 147 million euros ($162 million) after they rose 2.1% in the first half of the year.

Revenue totalled 994 million euros in the nine months, with an increase at constant exchange rates of 1.9%.

Analysts had expected 994 million euros in sales and 139 million in EBITDA, according to a Reuters poll.

(Editing by David Evans)

By Claudia Cristoferi

Stocks mentioned in the article
ChangeLast1st jan.
HUB CO., LTD. 0.00%End-of-day quote.0.00%
SALVATORE FERRAGAMO S.P.A. 0.26% 11.78 Delayed Quote.-37.17%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on SALVATORE FERRAGAMO S.P.A.
03/10SALVATORE FERRAGAMO S P A : 2020.03.10 Full Year 2019 Results Update Analyst
PU
03/10GLOBAL MARKETS LIVE: The US shale oil industry is under scrutiny, so are airl..
03/10SALVATORE FERRAGAMO S.P.A. : Annual results
CO
03/10SALVATORE FERRAGAMO S.P.A. : Slide show results
CO
03/09Orders sink for Italy's luxury suppliers as virus spreads - sources
RE
03/05SALVATORE FERRAGAMO S.P.A. : annual earnings release
02/22SALVATORE FERRAGAMO S P A : Milan Fashion Week carries on amid virus, economic c..
AQ
01/29WALL STREET STOCK EXCHANGE : Apple is unstoppable, Boeing pays for past mistakes
01/21China virus scare sends shudder through European luxury goods sector
RE
2019EUROPE : European shares dip, Glencore slides to three-year low
RE
More news
Financials (EUR)
Sales 2019 1 379 M
EBIT 2019 150 M
Net income 2019 88,5 M
Debt 2019 434 M
Yield 2019 2,81%
P/E ratio 2019 22,3x
P/E ratio 2020 41,3x
EV / Sales2019 1,75x
EV / Sales2020 2,08x
Capitalization 1 982 M
Chart SALVATORE FERRAGAMO S.P.A.
Duration : Period :
Salvatore Ferragamo S.p.A. Technical Analysis Chart | SFER | IT0004712375 | MarketScreener
Technical analysis trends SALVATORE FERRAGAMO S.P.A.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 13,43  €
Last Close Price 11,75  €
Spread / Highest target 53,2%
Spread / Average Target 14,3%
Spread / Lowest Target -14,9%
EPS Revisions
Managers
NameTitle
Micaela Le Divelec Lemmi Chief Executive Officer
Ferruccio Ferragamo Chairman & President
Alessandro Corsi Chief Financial Officer
Giovanna Ferragamo Vice Chairman
Leonardo Ferragamo Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SALVATORE FERRAGAMO S.P.A.-37.17%2 242
LVMH MOËT HENNESSY - LOUIS VUITTON SE-21.52%187 320
LULULEMON ATHLETICA INC.-21.76%24 673
VF CORPORATION-50.95%21 346
MONCLER S.P.A.-22.39%9 242
LI NING COMPANY LIMITED-4.03%7 175