The company's net sales were located at € 1,009.3 million (~ $ 1,041 million) in 2024, marking a 9.8 percent decrease (8.5 percent at constant change rates) compared to € 1,119.5 million in 2023, said Salvatore Ferragamo In a press release.
Salvatore Ferragamo has reported income of € 1,035 million (~ $ 1,070 million) in fiscal year 2024, 10.5 percent lower. Net sales of the company fell 9.8 percent to € 1,009.3 million (~ $ 1,041 million). DTC sales decreased by 5.8 percent, while wholesale fell by 21.2 percent. Footwear and leather items you lead sales. P4 revenues fell 6.7 percent to € 291 million (~ $ 301.65 million).
Distribution sales regarding the channel, direct to the consumer (DTC) represented € 776.7 million, representing 75.0 percent of total revenues, below 5.8 percent (3.8 percent at constant change rates) of the year former. Wholesale revenues saw a more significant drop of 21.2 percent (21.3 percent at constant exchange rates), falling to € 232.6 million € 295.3 million in 2023.
As for the segment, the footwear remained the largest segment, contributing with 461.0 million euros, or 45.7 percent of net sales, but decreased by 9.9 percent (8.7 percent to constant change rates) compared With 2023. Leather shit, which represents 40.9 percent of net sales of € 412.8 million, saw a 8.5 percent drop (7.1 percent at constant exchange rates). The sales of clothing fell more, decreasing by 17.7 percent (16.2 percent to constant exchange rates) to € 60.5 million € 73.5 million. The Silk & Other Category generated € 75.0 million, maintaining its participation in 7.4 percent of net sales, but decreased by 9.6 percent (8.7 percent to constant change rates) year after year.
As for total, regional net sales in Europe, the Middle East and Africa (EMEA) decreased by 7.8 percent year-on-year at constant exchange rates (-8.9 percent to current exchange rates). In Northern North America, 2.6 percent fell to constant exchange rates and current exchange rates. Net sales in Pacific Asia decreased 18.9 percent to constant exchange rates (-19.7 percent to current exchange rates compared to fiscal year 2023. Sales from Central and South America increased by 1.0 percent to types to types to types constant change (-3.0 percent to current exchange rates).
Financial of the fourth quarter (fourth quarter)
According to preliminary reports, the company generated consolidated income of € 291 million (~ $ 301.65 million) in the fourth quarter (quarter quarter) of 2024, 4.0 percent less at constant change rates and 6.7 percent to the Current exchange rate against Q4 2023.
As for the region, EMEA registered total net sales increased by 4.5 percent year-on-year at constant exchange rates (-0.4 percent to current exchange rates) in the fourth quarter of 2024. North America registered a Increase in total net sales of 6.3 percent at constant change rates2 (+5.4 percent to current exchange rates).
Meanwhile, sales from Central and South America increased by 10.7 percent to constant exchange rates (+7.3 percent to current exchange rates). Japan registered an increase in total net sales of 1.2 percent at constant exchange rates (-1.2 percent to current exchange rates). The Pacific Asia region registered a decrease in total net sales of 24.8 percent to constant exchange rates (-24.0 percent to current exchange rates).
“In 2024 we completed the deployment of our new offer of products, redesigning and enriching our proposal. In the fourth quarter, the positive result of the primary DTC channel was driven by the performance of the bags that extend to the shoes, particularly thanks to the new successful icons, such as the hug bag and the Ballet Zina shoe. We also work to maximize brand awareness, promote convenience and commitment, through shocking communication initiatives, including 'three days in Florence' and 'Holiday', “he said Marco Gobbetti, Executive Director (CEO) and General Manager of Salvatore Ferragamo. “We are satisfied with the bases that we have built and, although we remain aware of the context of the persistent complex market, the trends we identify encourage ourselves at the end of the year. January shows an acceleration in the growth of our DTC channel, although backed by the different moment of the Chinese New Year and a favorable comparison base versus last year. “
Fiber2Fashion News Desk (SG)
