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.”
Penelope Cruz wows in a strapless white @chanelofficial feather dress. She is nominated for Best Movie/Limited Series Supporting Actress for The Assassination of Gianni Versace: American Crime Story. #Emmys
Take a peek into Gucci's new Instagram account (@guccibeauty), which is guided by Creative Director Alessandro Michele’s vision of beauty. In typical Gucci fashion, the account already features a series of artworks spanning across history, ethnicity, culture and geography. It will showcase and promote its new cosmetic launches and fragrances as well as looks from the fashion shows and special collaborations with artists and talents. #wwdbeauty
Photographed by @delphachardphotos