By  on December 15, 2017

MILAN — It was a rough day for Salvatore Ferragamo’s shares on the Milan Bourse on Friday. A warning on medium-term targets issued by the Florence-based firm drove shares down 6.3 percent to close at 21.15 euros. At their lowest, shares reached 20.42 euros in intra-day trading.

The company said that evaluating its development plans and “significant IT and marketing investments, presented by the management, in order to relaunch the brand and to optimize the group’s commercial, production and logistic processes,” the board, headed by chairman Ferruccio Ferragamo, “recognized an extension into the financial year 2018 of the transition phase, that characterized 2017, and its related reflections on the medium-term ambitions.” These were presented to the market on Feb. 3. On Thursday, the board said it could no longer confirm these and they would be “more difficult to be achieved.”

To continue reading this article...

load comments
blog comments powered by Disqus