EarningsFerragamo reported a weaker than expected set of Q3 results, with headline organic growth of -7%, driven by softer trends in the secondary retail channel and wholesale.
Financial PerformanceThe guidance for FY-24 EBIT of approximately €30 million is below the current consensus level and implies further earnings pressure for both FY-24 and FY-25.
Market DemandThe wholesale channel was the negative spot, being down -13% at constant FX in Q3, primarily driven by weaker demand, especially in the US market and travel retail.