Salvatore Ferragamo: Consolidated Revenues up 4% in 4Q 2016 and up 1% in FY 2016
Salvatore Ferragamo released the Group’s preliminary consolidated revenues for the Fiscal Year 2016, which amount to 1,438 million Euros up by 1% at current exchange rates and down by 2% at constant exchange rates vs. FY 2015.
The Asia Pacific area is confirmed as the Group’s top market in terms of Revenues, representing 36% of total in FY 2016, up by 1%. In 4Q 2016 the growth was over 4%, despite the hard comparison base (+8% in 4Q 2015). The positive performance was achieved despite the still weak business in Hong Kong which remained negative, despite a further improvement.
Europe posted an decrease in Revenues of 4% in FY 2016, penalized by lower tourist flows due to the dramatic events occurred. In 4Q 2016 the decrease was 2%
North America, despite the strong currency that also negatively impacted tourist flows in the United States, registered an increase in Revenues of over 4% in FY 2016 (-2% at constant exchange rates). In 4Q 2016 Revenues increased 7% (+2% at constant exchange rates), thanks to the good performance of the retail business up by 10%.
The Japanese market reported stable Revenuesin FY 2016, but up 3% in 4Q 2016, despite the hard comparison base (+18% in 4Q 2015).
Revenues in Central and South America showed an increase of 6% in FY 2016, with an acceleration in 4Q 2016 (+12%).