The Italian fashion house Salvatore Ferragamo SpA was able to achieve strong growth in sales and earnings in the first nine months of the 2022 financial year. This emerges from an interim report published by the shoe and leather goods specialist on Tuesday.
According to this, consolidated sales for the months of January to September amounted to EUR 920.7 million, which corresponds to an increase of 17.2 percent (currency-adjusted +12.7 percent) compared to the same period of the previous year. The development in the EMEA region, which includes Europe, the Middle East and Africa, was particularly dynamic: Revenues there rose by 37.3 percent (currency-adjusted +37.9 percent) to EUR 202.1 million.
In North America, sales grew by 29.6 percent (currency-adjusted +15.6 percent) to EUR 276.7 million, in Japan by 19.9 percent (currency-adjusted +25.5 percent) to EUR 72.8 million and in Central and and South America by 37.0 percent (currency-adjusted +22.4 percent) to 60.7 million euros.
In the Asia-Pacific region, business was impacted by tightened protective measures against the Covid-19 pandemic in China. Total sales in the region therefore only increased by 2.1 percent to EUR 315.7 million. Adjusted for exchange rate changes, it even shrank by 5.4 percent.
Despite higher costs, the company was able to significantly improve its earnings. The operating profit after nine months was 113.9 million euros and thus 34.8 percent above the corresponding level of the previous year. The net result grew by 69.2 percent to 67.4 million euros, the surplus attributable to the shareholders even jumped by 83.7 percent to 69.0 million euros.