In the first quarter of the year, the Salvatore Ferragamo group recorded revenues of 222 million (-30% compared to 317 million in the first quarter of 2019), a gross operating result of 12 million (-82%), a negative operating result of 36 million and a negative net result of 41 million compared to the profit of 11 million in the first quarter of 2019. Net liquidity is 123 million and the group "confirms the medium and long-term objectives".
In the first quarter of the year, the Salvatore Ferragamo group recorded revenues of 222 million (-30% compared to 317 million in the first quarter of 2019), a gross operating result of 12 million (-82%), a negative operating result of 36 million and a negative net result of 41 million compared to the profit of 11 million in the first quarter of 2019. Net liquidity is 123 million and the group "confirms the medium and long-term objectives".
Salvatore Ferragamo "does not believe it can formulate reliable forecasts regarding the sales performance in the various markets and distribution channels for the current year. In this context, in order to mitigate the negative effects for the group, which could derive from the crisis generated since the pandemic, it has launched a series of concrete actions to contain expenses and investments ", concludes the fashion group.