Salvatore Ferragamo SpA (SFER.MI)
MILAN Italian luxury goods group Salvatore Ferragamo still has work to do to turn itself around, its chairman said on Monday, as the company warned currency swings and a bias in sales towards lower-margin goods could hit results this year.
MILAN, May 7 Italian luxury goods group Salvatore Ferragamo still has work to do to turn itself around, its chairman said on Monday, as the company warned currency swings and a bias in sales towards lower-margin goods could hit results this year.
May 7 Italy's Salvatore Ferragamo CFO Ugo Giorcelli says :
MILAN, May 7 Italian luxury group Salvatore Ferragamo said on Monday it expected 2018 results to be undermined by currency swings and an unfavourable mix of its sales channels, after posting first quarter results in line with expectations.
* China demand particularly dynamic, U.S. picks up (Writes through, adds quotes, details)
* Chairman says pressing ahead with revamp plan (Recasts after statements)
* NAMES LE DIVELEC AND JAMES FERRAGAMO AS TWO NEW STRATEGIC MANAGERS IN ADDITION TO CFO UGO GIORCELLI
* SHAREHOLDERS APPROVE INTRODUCTION OF LOYALTY SHARE SCHEME FOR INVESTORS HOLDING SHARES IN COMPANY FOR AT LEAST 2 YEARS Further company coverage: (Reporting by Milan newsroom)
MILAN Salvatore Ferragamo will delay the appointment of a new CEO and set up an executive management committee to steer the Italian luxury group's ongoing revamp, sources close to the matter told Reuters.
* New CEO will be come from outside the company (Adds quotes, background)