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Ferragamo’s Sales Fall 20% in Fourth Quarter

New lockdowns in Europe more than offset a strong rebound in China for the Italian group.
Salvatore Ferragamo Fall/Winter 2014. Salvatore Ferragamo.

Sales at Italian fashion group Salvatore Ferragamo fell by 20 percent in the fourth quarter, broadly in line with expectations, as new lockdowns to fight a resurgence of Covid-19 in Europe more than offset a strong rebound in China.

Full-year sales plunged by a third to 916 million euros ($1.1 billion), compared with a SmartEstimate consensus estimate of 911 million euros provided by Refinitiv.

By Claudia Cristoferi, editing by Silvia Aloisi

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