By  on May 18, 2009

MILAN – Italy’s Salvatore Ferragamo SpA reported a 17 percent drop in earnings in 2008 due to marginal revenue growth and a raft of new store openings.

For the 12 months through Dec. 31, net profits fell to 39 million euros, or $57.4 million. Revenues gained 1 percent to 691 million euros, or $1.02 billion, driven by the Asia-Pacific region, where sales increased 23 percent at constant exchange.

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