Shoe Maker Salvatore Ferragamo Reported Better Earnings Than Expected Earnings.

Italy

Salvatore Ferragamo SpA, the manufacturer, announced its 2015 annual earnings report (up to December 31, 2015), though its sales growth was weaker than that, but its profits were better than expected.

Despite the unfavorable environment of the industry, the company predicts that this year's performance will be positive.

After the news, the company's share price rose 3.7% in the early morning trading of the Milan stock exchange.

The fiscal year 2015 showed that the total sales revenue was 1 billion 430 million euros, up 7.4% from the current exchange rate, fourth in the fourth quarter, and 324 million in the fourth quarter, compared with the previous growth rate of 11% euros, which is higher than the previous forecast of 313 million 300 thousand euros; the profit margin before tax is 265 million euro, up by 8% over the previous year; the operating net cash growth has been 197 million euro; the share dividends per share rose to the euro in; the net profit is Euro euro, up by year-on-year growth; the gross profit margin is Euro, increasing year by year, the operating cost is Euro, according to the current exchange rate growth year by year: the Asia Pacific region is the number one market, the sales volume accounts for the total sales volume, the sales volume accounts for the total sales volume, the year-on-year growth rate is over. Ferragamo announced

Ferragamo said that in January and February this year, its performance was "not very ideal", which was comparable to the decline in the number of sales in the fourth quarter of last year. The two luxury group Tod 's and Hugo Boss also gave similar conclusions.

Ferragamo's net profit continued to grow, mainly due to high profit small leather goods and a lower discount rate.

Fourth quarter quarter

An increase of 2.2 percentage points to 67.5% over the same period, and the gross profit margin of the whole year increased 2.6 percentage points to 66.3% over the same period. The company expects the gross profit margin to further increase to 69% in the future.

Citigroup analyst Thomas Chauvet believes that Ferragamo will continue to maintain high profit growth.

Facing the current weak economic climate, Ferragamo's performance is particularly prominent.

According to Chauvet, poor sales performance is partly due to large-scale renovation of stores, and also reflects Hong Kong and Macao.

Europe's tourism market was also more volatile after the terrorist attacks in Paris last November.

Hongkong's performance is poor, and China's retail channel sales grew by 10% over the same period last year.

Sales in Europe increased by 7% over the same period last year.

Although Paris terrorist attacks in November last year had an impact on luxury consumption, the fourth quarter still increased by 9%.

In the North American market, the US dollar was strong, the number of tourists to the United States declined, sales increased 9% year-on-year, and the fourth quarter increased by 8%. The Japanese market, which benefited from China's tourism boom in Japan, grew by 14% over the same period last year, with the growth rate of 18% in the fourth quarter. The sales volume of the central and South American market represented by Mexico increased by 12% over the same period, with 4% growth in the fourth quarter.