Salvatore Ferragamo drops 7% after H1 results imply limited upside

Salvatore Ferragamo

04/08/2026 09:52

** Shares in Italy's Salvatore Ferragamo SFER.MI are down by more than 7% after it published H1 results on Monday which marginally beat expectations but did not placate concerns for the following months
** The fashion group's first-half sales grew 5% year-on-year, 1% below estimates provided by JP Morgan, while EBIT stood at €21 million  ($24.17 million), ahead of €15 million expected by the broker
** During a post-earnings call, Ferragamo said the sales growth pace had moderated in July, partially reflecting a slowdown in the United States

        ** JP Morgan says despite positive signs of inflection, the Italian group's execution risk tied to the management transition and the recent share price strength limit the upside for the stock
** Italian brokerage EQUITA moves Ferragamo to "reduce" from "hold," citing weakness in China and margins "still well below sector's benchmarks" in three to five year's time
** However, it raises its TP by 12% to €8.2 per share
** Up to the previous session's close, Ferragamo's shares were up 24.5%​ YTD


($1 = 0.8689 euros)

 (Reporting by Fabrizio La Rocca)
 ((Fabrizio.larocca@thomsonreuters.com))