MILAN — Salvatore Ferragamo SpA reported a 2.3 percent uptick in its preliminary 2019 sales, lifted by the Europe, Middle East and Africa region and the retail channel in China, despite the protests in Hong Kong.
On Tuesday, the Florence-based company said revenues for the year ended Dec. 31 rose to 1.37 billion euros, compared with 1.34 billion euros in 2018. At constant exchange rates, revenues grew 1.3 percent.
In the fourth quarter, sales increased 2.1 percent, with retail revenues ahead 2 percent, and like-for-like up 0.2 percent.
All distribution channels helped the brand’s growth. In 2019, retail was up 2.4 percent. As of Dec. 31, the group’s retail network counted a total of 654 points of sales, including 393 directly operated stores and 261 third-party operated stores.
Like-for-like sales were up 1 percent, despite lower revenues in the secondary channel. Chief executive officer Micaela Le Divelec Lemmi told WWD this month that she has been “working on balancing full-price and off-price, first and secondary channels, in a way that enhances the brand.”
The wholesale channel showed a 3.1 percent increase in 2019, mainly thanks to the good performance of the travel retail channel. In the fourth quarter, wholesale revenues were up 2.6 percent at constant exchange
On Tuesday, the Florence-based company said revenues for the year ended Dec. 31 rose to 1.37 billion euros, compared with 1.34 billion euros in 2018. At constant exchange rates, revenues grew 1.3 percent.
In the fourth quarter, sales increased 2.1 percent, with retail revenues ahead 2 percent, and like-for-like up 0.2 percent.
All distribution channels helped the brand’s growth. In 2019, retail was up 2.4 percent. As of Dec. 31, the group’s retail network counted a total of 654 points of sales, including 393 directly operated stores and 261 third-party operated stores.
Like-for-like sales were up 1 percent, despite lower revenues in the secondary channel. Chief executive officer Micaela Le Divelec Lemmi told WWD this month that she has been “working on balancing full-price and off-price, first and secondary channels, in a way that enhances the brand.”
The wholesale channel showed a 3.1 percent increase in 2019, mainly thanks to the good performance of the travel retail channel. In the fourth quarter, wholesale revenues were up 2.6 percent at constant exchange
Follow WWD on Twitter or become a fan on Facebook.