Ferragamo's restructuring hits profit
02/08/2017
Italian footwear brand Salvatore Ferragamo has reported flat revenues but a substantial decline in profit for the first half of the year. Revenues of €718 million were 1% higher than the first half of 2016, but profit was down 18% to €136 million due to “destocking activity”. Sales in Asia grew 6.1%, despite fewer Chinese tourists in South Korea ...
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