Save this story Save Story Save this story In the third quarter, Salvatore Ferragamo Group revenues dropped 3.5% year-on-year, on a constant currency basis, to €207 million. In the first nine months of the year, revenues remained flat year-on-year, reaching €675 million. The company attributed the results to shaky wholesale performance, which offset positive momentum in the direct-to-consumer (DTC) channel during the first three quarters. Third-quarter DTC sales, a priority for the group, were flat year-on-year, bolstered by growth in North America and Europe, but dragged by a weak performance in Asia. Wholesale sales in the quarter fell 19.1% year-on-year, attributed to a selective distribution and strategic positioning. More Earnings Stories from Vogue Business Luxury’s Second-Quarter Earnings Cheat Sheet
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Source: Lifestyle
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