Most Recent Articles In Financial
Latest Financial Articles
- Onward Profits Inch Up
- Europe’s Markets Lose Ground Ahead of Greek Referendum
- Joe’s Receives Forbearance From Creditors
More Articles By
MILAN — Global retail and wholesale growth and gains in its footwear and leather goods categories contributed to a 17 percent rise in Salvatore Ferragamo SpA’s 2012 preliminary sales.
In the 12 months ended Dec. 31, the Florence-based company reported revenues of 1.15 billion euros, or $1.47 billion, compared with 986 million euros, or $1.37 billion, in 2011.
Dollar figures were converted at average exchange rates for the periods to which they refer.
The Asia Pacific area remains the group’s core market, accounting for 36.3 percent of total sales, and up 17.5 percent compared with the previous year. The retail channel in the region contributed to the growth, showing a 20 percent jump. Lifted by tourists, Europe posted a 21.4 percent increase. North America grew 16.1 percent, almost entirely achieved on a like-for-like basis.
Sales rose 5 percent in Japan, supported by a favorable exchange rate, but fell 2 percent in local currency. Central and South America were also strong regions, showing a 26.5 percent increase.
As of Dec. 31, the group counted 338 directly operated stores, while the wholesale and travel retail channel included 268 third-party operated stores, as well as a presence in department stores and high-end multi-brand specialty stores.
Ferragamo’s retail distribution channel climbed 14.4 percent to 753.3 million euros, or $964.2 million.
The wholesale and travel retail channel grew 21.6 percent.
Footwear sales gained 19.6 percent and handbags and leather accessories rose 16.4 percent, together accounting for around 75 percent of total revenues. Fragrances climbed 20.4 percent and ready-to-wear 5.4 percent.
The group’s full 2012 financial results will be released March 21.