85 774
Fashion Jobs
OLD NAVY
Assistant General Manager, Merchandising - Pheasant Run Plaza
Permanent · CHICO
OLD NAVY
Assistant General Manager, Merchandising - Merrimack Premium
Permanent · MERRIMACK
ATHLETA
Assistant General Manager - 18th & 5th
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Arizona Mills
Permanent · TEMPE
GAP
General Manager - Philadelphia Mills
Permanent · PHILADELPHIA
OLD NAVY
General Manager - Shops at Waldorf Center (New Store)
Permanent · WALDORF
OLD NAVY
Assistant General Manager, Merchandising - Triangle Square
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Northgate Mall
Permanent · CHATTANOOGA
OLD NAVY
General Manager - Coosa Town Center
Permanent · GADSDEN
OLD NAVY
General Manager - Upper Valley Plaza
Permanent · LEBANON
ATHLETA
General Manager - Issaquah Commons
Permanent · ISSAQUAH
ATHLETA
General Manager - 2nd And Pch
Permanent · LONG BEACH
BANANA REPUBLIC
Assistant General Manager - Home
Permanent · TROY
OLD NAVY
Director, CRM, Marketing
Permanent · SAN FRANCISCO
HENKEL
Senior Automation Tech
Permanent · GENEVA
ESSILORLUXOTTICA GROUP
Customer Service Representative
Permanent · EAST SYRACUSE
ESSILORLUXOTTICA GROUP
Customer Service Representative Classic Optical)
Permanent · YOUNGSTOWN
ESSILORLUXOTTICA GROUP
sr. Manager, Business Growth
Permanent · NEW YORK
ESSILORLUXOTTICA GROUP
Associate Manager, Trade Event Marketing
Permanent · DALLAS
ESSILORLUXOTTICA GROUP
Oakley - Specialized Consultant
Permanent · PEMBROKE PINES
ESSILORLUXOTTICA GROUP
Oakley - Sales Supervisor
Permanent · CAMARILLO
ESSILORLUXOTTICA GROUP
Naasc - Material Handler II (Inbound Team Lead)
Permanent · MCDONOUGH
By
Reuters
Published
Mar 2, 2015
Reading time
2 minutes
Download
Download the article
Print
Text size

Ferragamo CEO sees higher 2015 sales after 'excellent' February

By
Reuters
Published
Mar 2, 2015

Italian luxury group Salvatore Ferragamo expects its sales to grow this year after the Chinese New Year contributed to an "excellent" performance in February, Chief Executive Michele Norsa said on Sunday.

Ferragamo reported at the end of January a preliminary 6 percent rise in last year's revenue to 1.3 billion euros ($1.5 billion). It will publish final 2014 results on March 12.


Norsa said a weaker euro, lower oil prices, buoyant financial markets and the impact of the European Central Bank's bond buying program were all factors supporting the 2015 outlook, despite ongoing global threats such as Islamic extremism.

"It's reasonable to expect another year of growth," Norsa told journalists ahead of the brand's Autumn/Winter 2015 women's collection show, answering a question about sales.

"February was an excellent month," he added.

The Chinese New Year has a significant impact on luxury spending. Italian fashion house Prada said a week ago its sales to the end of January had suffered because the Chinese New Year fell on Feb. 19, while in 2014 it was on Jan. 31.

Norsa said the festivity had brought Chinese tourists to places like Korea, Japan, Australia, the West Coast of the United States but also to Europe, including Italy.

"We've seen in the last week Chinese disseminated all around the world spending money ... It is really a strong move," he said. "The dynamics of our retail outlets, also in Italy, over the past 10 days have been rather extraordinary."

A weaker euro will likely continue to drive Chinese tourists to Europe this year and Milan's upcoming Expo 2015 international exhibition should help Italy's role as the first country they visit in the Continent.

A larger Chinese presence would help offset a drag on luxury sales from the lack of Russian tourists across Europe.

With Russia's economy seen shrinking this year and the value of the rouble hit by a financial crisis, Norsa said Russians were traveling more to places like Turkey or Egypt.

"It'll be a while before they come back to Europe," he said.

Ferragamo, which has the higher exposure in its sector to travelers shopping in places like airports, will open around 10 sales outlets in airports this year, Norsa said mentioning Dubai, Helsinki and Quito.

New shops were planned also in cities like Copenhagen, Berlin and New York, he said, declining to give an overall target for shop openings.

€1 = $1.12/£0.73

© Thomson Reuters 2024 All rights reserved.