Italian fashion group Salvatore Ferragamo posts FY20 sales of €916 mn

Fashion

13 Mar `21

1 min read

Salvatore Ferragamo, an Italy-based luxury goods company, has reported 33.5 per cent revenue decline to €915.8 million in its full fiscal 2020 that ended on December 31, 2020 compared to revenue of €1.37 billion in the previous fiscal. During 2020, company incurred a net loss of €71.7 million compared to net profit of €87.3 million in FY19.

Salvatore Ferragamo, an Italy-based luxury goods company, has reported 33.5 per cent revenue decline to €915.8 million in its full fiscal 2020 that ended on December 31, 2020 compared to revenue of €1.37 billion in the previous fiscal. During 2020, company incurred a net loss of €71.7 million compared to net profit of €87.3 million in FY19.#

Gross profit dropped to €565.4 million (FY19: €893.5 million). The operating loss for the year amounted to €61.5 million (operating profit: €149.7 million).

Salvatore Ferragamo, an Italy-based luxury goods company, has reported 33.5 per cent revenue decline to €915.8 million in its full fiscal 2020 that ended on December 31, 2020 compared to revenue of €1.37 billion in the previous fiscal. During 2020, company incurred a net loss of €71.7 million compared to net profit of €87.3 million in FY19.#

Retail revenue during FY20 came down 29.2 per cent to €637.0 million (€899.5 million). While wholesale revenue plunged 41.7 per cent to €269.1 million (€461.4 million).

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