Sales at Italian luxury group Salvatore Ferragamo fell 16.6 percent at constant exchange rates in the first quarter, the company said on Thursday.
“Over the quarter, our performance was impacted by continued volatility in the Chinese market, as well as a persisting weakness in wholesale and travel retail, further compounded by an unfavourable comparison,” chief executive Marco Gobbetti said in a statement.
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
By Elisa Anzolin, editing by Gianluca Semeraro
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