The preliminary sales of Florence-based luxury group Salvatore Ferragamo declined by 46.6 percent to €377 million in the first six months ended June 30 compared to €705 million in the same period last year. Impacted by the pandemic, the lockdown of commercial activities and lack of international traffic, the group’s sales fell by 60.1 percent in the second quarter. As of June 30, the company had 643 points of sales, including 389 directly operated stores and 254 third-party-operated stores in the wholesale and travel retail channels.

In the first half of the year, the retail distribution channel reported a 41 percent drop to €260.6 million, representing 69.2 percent of the total. In the second quarter, retail revenues decreased 51.2 percent. Sales in the wholesale channel tumbled by 56.4 per cent to €110.8 million accounting for 29.4 per cent of the total. In the second quarter, wholesale revenues declined by 75.7 per cent. The company’s revenues from the Asia Pacific region declined 39.9 per cent to €166.7 million during the second quarter. Sales declined 35.3 per cent at constant exchange rates, benefiting from the positive performance of the retail channel in China, which recorded growth of 11.6 per cent at constant exchange rates.