Ferragamo reports first half 2014 revenues up 6%
Savatore Ferragamo reports first half 2014 total revenues growth of 6% to 659 million Euros, compared to the same period last year.
The Net Profit for the period, including a Minority Interest of 4 million Euros, reached 82 million Euros, marking a 6%decrease vs. 1H2013, but increasing10%excludingthe capital gain, deriving from the disposal of the participation in ZeFer, fromthe result of the first six months of 2013.
The Asia Pacific area is confirmed as the Group’s top market in terms of Revenues, increasing by 6% vs. 1H 2013, with a significant contribution from the retail channel in Greater China, that recorded an acceleration in 2Q 2014 (+15%).
Europe, despite the geopolitical tensions which negatively impacted the global tourist flows, posted an increase in Revenuesof 9%vs. 1H 2013, confirming the 1Q performance. North America, strongly impacted by the unfavourable weather conditions in the first part of the year, recorded a solid Revenue growth in 2Q 2014 (+12%), bringing the increase to over 7% in the first six months of 2014.
The Japanese market increased 6% in 1H 2014 (-4% in 2Q 2014, penalized by the expected slowdown due to the consumer tax increase). Revenues in the Central and South America marked an increase of over 23%in 1H 2014, thanks also to the reorganization in distribution in the area.
Among the product categories, it is especially worth highlighting the increase of handbags and leather accessories (+16%) and of footwear (+6%), which together represent over 78% of the Group total turnover. The performance of fragrances, that was penalized in 1Q (-2%vs. 1Q2013), accelerated in 2Q 2014 (+13%), bringing to a 5% increase in1H 2014.