Italian luxury group Salvatore Ferragamo reported on Wednesday a 1 percent decline in sales at constant exchange rates for the first quarter, due to weak sales in the Asia Pacific region.
The company, currently without a CEO after the exit of Marco Gobbetti two months ago, posted revenues of â¬221 million ($247.50 million) in the quarter, slightly below a Visible Alpha analystsâ consensus of â¬223 million.
âThe difficult macroeconomic environment, weighing on consumersâ confidence, impacted the first quarterâs performance, driving a decrease in traffic, only partly offset by higher conversion rate and increase in the average ticket,â the group said in a statement.
By Elisa Anzolin; Edited by Gianluca Semeraro
Learn more:
Ferragamo Sales Down 17% in First Quarter
Revenues totalled â¬227 million ($244.5 million), below analyst expectations of â¬237 million according a LSEG consensus.