MILAN Oct 21 Luxury goods maker Salvatore
Ferragamo is uncertain about its performance in the fourth
quarter, its chief executive said on Tuesday, after a mainly
positive first nine months of the year.
"The first nine months were substantially positive," Michele
Norsa told reporters on the sidelines of a luxury goods sector
business event. "There is a question mark for the last quarter."
Analysts are expecting cracks to appear in the resilience of
the global luxury market due to weaker consumer confidence and
the global financial crisis.
Italian jeweller Bulgari BULG.MI was last month one of the
first luxury groups in Europe to warn the Christmas season would
see poorer sales this year than last.
Ferragamo, known for its silks ties, handbags, scarves and
shoes, has been monitoring market conditions for a planned
Analysts and bank sources have said Ferragamo and fellow
fashion brand Prada will delay flotation plans until next due to
the poor state of equity markets.
"We are ready, the markets aren't," Leonardo Ferragamo, a
board member of the Florence-based fashion house, said.
"Luckily, we are in no hurry."
(Reporting by Cristina Carlevaro and Marie-Louise Gumuchian;
Editing by David Holmes)