Salvatore Ferragamo’s sales for the last quarter of 2024 fell by 4% when looking at constant exchange rates, which reflects a slowdown in luxury shopping around the world, particularly in Asia. On the brighter side, sales in North America increased by 6.3%. However, the Asia Pacific region faced a big challenge, seeing a 25% drop in sales. The company reported initial revenue of €1.03 billion, which met what analysts were expecting. CEO Marco Gobbetti pointed out that direct-to-consumer sales are doing well, thanks to better comparisons to last year’s performance.
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