Ferragamo: H1 2024 profitability beat with signs of improvement
Ferragamo published an encouraging set of H1 2024 results which were still negative. The company delivered a clear beat at the bottom-line level, with EBIT down 41% coming in 39% ahead of EBIT CSS expectations. The positive surprise on profitability stemmed from a clear opex reduction over H1, despSalvatore Ferragamo creates, produces and sales goods for men and women: footwear, leather goods, apparel, silk goods, jewels, other accessories and fragrances. as well as eyewear and watches manufactured under license by third parties. Co. sells its products through: a network of single Salvatore Ferragamo brand stores, managed both directly and by third parties; and presence in department stores and multibrand specialty stores. Co.'s fragrances product category involves the creation, development and production of fragrances and related products under the Salvatore Ferragamo brand. Co. is also active in the licensing of the Salvatore Ferragamo brand and in real estate management.
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