Weakness In The Asia Pacific Region: Ferragamo'S Three Quarter Profit Fell 4.6%

Italy luxury group Salvatore Ferragamo SpA (SFER.MI) Ferragamo released its earnings report on September 30, 2014 as of September 30, 2014. In the three quarter, the total revenue of Salvatore Ferragamo Group of Group subsidiaries and Salvatore Ferragamo Ferragamo brand operators was 297 million 600 thousand euros, up 2.5% from 2.902 euros a year earlier.

Salvatore Ferragamo

In the first nine months of September 30, 2014, the total revenue of Salvatore Ferragamo Ferragamo increased from 914 million 800 thousand euros a year earlier to 956 million 700 thousand euros, but the group's stock jumped 19.6% during the same period, much higher than the 4.6% increase in revenue.

As the Asia Pacific region continues to be weak, the company's stock price has fallen nearly 30% so far this year, leading to luxury stocks.

In the three quarter, Asia Pacific (excluding Japan) accounted for nearly 104 million 100 thousand of the group's total revenue, 104 million 100 thousand euros, an increase of 7% over the same period last year, while the fixed exchange rate increased by 3%, the first nine months.

Revenue grew by 4.6% to 353 million euros.

Salvatore Ferragamo Ferragamo income in the first nine months of fiscal 2014 (by category)

In the first nine months of fiscal year 2014, net profit of Salvatore Ferragamo Group was 113 million 800 thousand euros, down 4.8% from 119 million 600 thousand euros in the same period last year.

The decline was mainly due to the sale of 13 million euros from the Ermenegildo Zegna SpA joint venture Zefer in the first half of 2013, pushing up profits in the 2013 fiscal year.

According to the category, the revenue of the footwear department of the group's main products increased by 3%, while the sales of leather goods increased by 11.8%.

Salvatore Ferragamo Group said that although the economic environment is unstable, it is expected that the fourth quarter will remain in the first nine months of the level.

Thursday's closing Salvatore Ferragamo SpA (SFER.MI) Ferragamo shares rose 0.72% to 19.72 euros.