Insight Report 2 minutes PremiumSalvatore Ferragamo (BIT:SFER) 1H16 Results: Revenue Miss and CEO Replacement Coresight Research August 2, 2016 Executive Summary Salvatore Ferragamo posted 1H16 revenues of €710 million, a decrease of 1.7% year over year and below the consensus estimate of €712 million. On a constant-currency basis, revenues decreased by 3.1%. 2Q16 revenues declined by 1.5% year over year and by 4.0% at constant exchange rates, to €389 million. 1H16 operating profit remained flat year over year, at €136 million, versus the consensus estimate of €137 million. The company did not report earnings per share. The company reported that CEO Michele Norsa will resign and will be replaced by EraldoPoletto, former CEO of Furla, effective August 3, 2016. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Weinswig’s Weekly: Apple Pivots to Plan “C” with the iPhone 15February 2024 US Retail Sales: Growth Accelerates—Electronics Stores Rebound; Nonstore Retailers See Strong GrowthMarket Navigator: US Grocery Retailing—Executive SummaryJune 2023 Leading Indicators of US Retail Sales: Total Gains To Be in the Low Single Digits Due to Flat Disposable Income Growth
