June 25, 2020 / 4:15 PM / 2 months ago

Ferragamo delays H1 results, call to September, to give only sales in July

MILAN, June 25 (Reuters) - Italy’s Salvatore Ferragamo will release on July 28 only its half-year sales data, postponing the remaining financial data for the semester and a conference call with analysts to Sept. 15, the luxury group said on Thursday.

The move is due to the company wanting to present to the market the figures in their entirety, including “actions already implemented by Ferragamo in these difficult months, marked by the coronavirus crisis,” said a source with knowledge of the matter.

The sales figures that the leather goods maker will release in July should give the market an indication of the trend of the second quarter, the source added.

The April-to-June period is expected by analysts as the weakest quarter this year for the whole luxury sector given it was impacted the most by the lockdown measures put in place in key markets around the world.

On May 27th, Ferragamo called back former group CEO Michele Norsa as executive vice chairman to weather the COVID-19 storm and help management revamp the Fiorentine brand alongside the current CEO Micaela le Divelec Lemmi. (Reporting by Claudia Cristoferi; editing by Agnieszka Flak)

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