Salvatore Ferragamo SpA (SFER.MI)
Latest Key Developments (Source: Significant Developments)
Italian luxury goods company Salvatore Ferragamo in a post-result analyst call on Tuesday: Outgoing CEO Michele Norsa says both revenue and EBITDA full-year consensus estimates are achievable if the sector shows improvement and net of any external extraordinary events . CEO says group will this year open 7-10 new directly-operated stores and 10-12 stores run by third parties . Chief financial officer Ernesto Greco says July retail sales positive, sees improvement in second half, especially in China and Korea . CFO says like-for-like sales growth in second quarter will be negative in a mid single digit range, the trend is towards better performance for rest of year . CFO says like-for-like sales growth in first three months is negative in the high single digits .CFO says gross profit margin of 67 percent posted in H1 remains a target for rest of year. Full Article
Salvatore Ferragamo CEO Michele Norsa tells analysts on a conference call: Like-for-like sales posted a decline in Q1 in mid to mid-high single digits, April showing improvement but hard to gauge H1 performance Further company coverage: [SFER.MI] (Reporting by Milan newsroom). Full Article
MILAN Italy's Salvatore Ferragamo posted on Tuesday rising net profits in 2016 thanks to a new national tax break regime but core profits and margins in the same period were flat.