Salvatore Ferragamo 2018 Sales Down 3.4%

MILAN — Dented by a sluggish wholesale channel, currency fluctuations and a decrease in its core footwear category, Salvatore Ferragamo SpA registered a 3.4 percent drop in preliminary 2018 revenues to 1.34 billion euros, compared with 1.39 billion euros in the previous year. At constant exchange rates, sales decreased 1.7 percent. Bright spots were the group’s performance in China, its handbags division, its retail channel and an inversion of trend at retail in the last quarter last year.

In the three months ended Dec. 31, sales were down 3.6 percent, dented by negative currency trends, a lower incidence of promotional sales and a slow wholesale business. At constant exchange rates, sales were down 1.8 percent.