Ferragamo's revenues fell 1% in first quarter, dragged by week sales in Asia

Salvatore Ferragamo

14/05/2025 16:58

Corrects typographical error in headline

MILAN, May 13 (Reuters) - Italian luxury group Salvatore Ferragamo SFER.MI reported on Wednesday a 1% decline in sales at constant exchange rates for the first quarter, due to weak sales in the Asia Pacific region.

The company, currently without a CEO after the exit of Marco Gobbetti two months ago, posted revenues of 221 million euros ($247.50 million) in the quarter, slightly below a Visible Alpha analysts' consensus of 223 million euros.

"The difficult macroeconomic environment, weighing on consumers' confidence, impacted the first quarter's performance, driving a decrease in traffic, only partly offset by higher conversion rate and increase in the average ticket," the group said in a statement.

($1 = 0.8929 euros)

 (Reporting by Elisa Anzolin, editing by Gianluca Semeraro)

 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))