As of 31 March 2020 the Salvatore Ferragamo Group reported total revenues of 222 million euros a decline of 30.1 per cent at current exchange rates againts 317 million Euros recorded in 1Q 2019.
The group registered a solid performance in January in all its main markets, that increasingly deteriorated in February and March, first in China and Asia and progressively also in Europe, in America and in the rest of the world, following the rapid diffusion of the pandemic caused by a novel coronavirus, known as Covid-19. The consequent decisions taken by the National governments regarding prohibitions and lock-downs of the commercial activities and of the international traffic, brought to the closure of the majority of the Group's store network in those countries and to a significant reduction in traffic in the remaining
As of 31 March 2020, the group's retail network counted on a total of 652 points of sales, including 391 Directly Operated Stores (DOS) and 261 Third Party Operated Stores (TPOS) in the Wholesale and Travel Retail channel, as well as the presence in Department Stores and high-level multi-brand Specialty Stores.
In 1Q 2020 the retail distribution channel, negatively impacted by the progressive closure of the majority of the distribution network in February and March and by the significant lack of traffic in the remaining stores, posted consolidated Revenues dow
The Wholesale channel registered a decrease in revenues of 32 per cent (-34.8 per cent at constant exchange rates2) againts1Q 2019, also penalised by the cancellation of orders, mainly in the Travel retail channel, and further disadvantaged by the comparison with 1Q 2019 that had benefitted from the recouped
The Asia Pacific area is confirmed as the Group's top market in terms of revenues, decreasing by 43.per cent (-43.8 per cent at constant exchange rates2) vs. 1Q 2019. In 1Q 2020 the retail channel in China reported revenues down 39.9 per cent. (-39.0 per cent at constant exchange rates2).
EMEA posted a decrease in revenues of 26.0 per cent (-26.3 per cent at constant exchange rates2) vs. 1Q 2019.
North America in 1Q 2020 recorded revenues down by 18.5 per cent (-24.7 per cent at constant exchange rates2)
