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Ferragamo Retail Sales Close to Pre-COVID Levels in July, August

Salvatore Ferragamo. Shutterstock

Italy’s Salvatore Ferragamo mentioned on Tuesday its retail gross sales in July and August have been near pre-coronavirus ranges, after returning to working revenue within the first half of 2021 from a pandemic-driven loss final yr.

“The months of July and August are persevering with to indicate a strong development in revenues in directly-operated shops in america, China, South Korea and Latin America versus the identical interval of 2019,” the corporate mentioned in an announcement.

It didn’t present a full-year estimate.

Ferragamo, which has been hit more durable than most rivals by the fallout of the coronavirus disaster as a result of its excessive publicity to journey spending, is relying on the arrival of former Burberry Chief Govt Marco Gobbetti at its helm later this yr to step up turnaround efforts which have struggled to yield outcomes.

The resignation of CEO Micaela le Divelec Lemmi is efficient as of Tuesday and all powers of odd administration will go to Govt Vice Chairman Michele Norsa forward of the arrival of Gobbetti.

Within the first half, working revenue rose to 66 million euros ($78.19 million) from a lack of 72 million euros within the year-ago interval.

Gross sales grew 46.2 p.c at fixed alternate charges within the first six months to 524 million euros, the corporate mentioned in July.

By Claudia Cristoferi; Modifying by Richard Chang

Study extra:

High Stakes at Milan Fashion Week

From Prada to Valentino, Italian manufacturers want the correct inventive thrust to rebound from the pandemic. Right here’s what to observe for at this week’s Milan reveals.

https://www.businessoffashion.com/news/luxurious/ferragamo-retail-sales-close-to-pre-covid-levels-in-july-august | Ferragamo Retail Gross sales Near Pre-COVID Ranges in July, August

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