Ahead of Ferragamo's Q1 publication on the 9th May, we become even more cautious on the name as Kering's warning due to Gucci (-20% expected) and a recent contact with the company prompt us to believe that consensus figures for Q1 (-2% lfl sales growth) and FY24 (+2% lfl sales growth) are overly op
Salvatore Ferragamo released its FY23 results and delivered a clear beat at bottom-line level coming in 13% ahead of CSS expectations. The positive surprise on profitability stemmed from Gross Margin improvement thanks to a focus on higher quality of sales and better product mix whilst management k
Among the Luxury groups in our coverage, Kering, Tod's Group and Salvatore Ferragamo are facing the same challenges to relaunch their main brands in a far more mixed environment. Implementing a successful brand turnaround strategy is not easy as we all know. Initial indications prompt us to remain
Among the Luxury groups in our coverage, Kering, Tod's Group and Salvatore Ferragamo are facing the same challenges to relaunch their main brands in a far more mixed environment. Implementing a successful brand turnaround strategy is not easy as we all know. Initial indications prompt us to remain
Tod's Group & Ferragamo are comparable in a lot of ways. They are both Italian family-owned luxury groups that are similar in size and have undergone a transition period. However, Tod's is currently in more positive shape than the Florentine group, hence our Buy recommendation for Tod's group a
Where do we stand after H1?Since the start of the year, we have been positive on the European Luxury Goods sector on expectations that China's reopening would bolster Luxury Goods sales throughout 2023. Q2 sales grew 17% on average. As expected, Hermès (+27%), Moncler (+26%) and Tod's Group (+24%)
A director at Salvatore Ferragamo bought 10,000 shares at 14.795EUR and the significance rating of the trade was 65/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years c...
Salvatore Ferragamo results were in line with expectations. EBIT came in at EUR128m (-11%), implying EBIT margin erosion of 240bp due to a significant increase in communication costs. Moreover, management was not very clear during yesterday's conference call on current momentum in China. We remain
SALVATORE FERRAGAMO - NEUTRAL | EUR20 vs. EUR19 Ambitious plan for 2021-26 but with still lack of visibility on short and medium term Q1 revenues grew 20.6%, above expectations Ferragamo sales should double towards 2026 according to management plan but we are more cautious We keep a cautious view at this stage!
SALVATORE FERRAGAMO - NEUTRAL | EUR19 vs. EUR19.5 We are more cautious on FY 22 profitability Q1 sales set to rise double digit organically with limited EBIT Clear EBIT margin erosion in FY 2022 (-300bp) Neutral recommendation, TP lowered to EUR19 vs EUR19.5
SALVATORE FERRAGAMO - NEUTRAL | EUR19.5 vs. EUR20 Some work to do on the brand! FY 21 sales momentum less dynamic than for most of peers FY 21 profitability is not replicable, due to positive “one off” No profitability improvement expected in 2022
The general evaluation of SALVATORE FERRAGAMO (IT), a company active in the Clothing & Accessories industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date December 7, 2021, the closi...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
SALVATORE FERRAGAMO - NEUTRAL | EUR16 VS. EUR15 (-15%) Be independent is great according to management! Q1 Sales slightly above expectations, down 22% vs Q1 2019 Acceleration in US in Q1 Gross margin gained 550bp in Q1 and strict control of OPEX We lift our earnings by 6%
SALVATORE FERRAGAMO - BUY | EUR14.5(+11%) Still weak visibility but potential speculation is still there! Sales slightly above expectations thanks to wholesale 9m EBIT losses lower than expected EUR55m EBIT losses expected on FY Potential speculative situation supports our buy recommendation
SALVATORE FERRAGAMO - BUY | EUR13.5(+12%) EUR74m EBIT losses in H1 despite OPEX down 19% China and Korea up dd recently, some slowdown in Japan OPEX down 19% in H1 (-30% in Q2), stores rationalization Buy recommendation unchanged
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.