Salvatore Ferragamo Expected to Have 3Q Revenue, Earnings Impetus -- Market Talk
Salvatore Ferragamo Expected to Have 3Q Revenue, Earnings Impetus -- Market Talk
1200 GMT - Salvatore Ferragamo should have a top- and bottom-line performance pickup in 3Q, keeping the Italian luxury-goods firm on track to meet full-year consensus estimates, Equita Sim's Paola Carboni says ahead of November's update. Quarterly sales should come in at EUR257 million, around 5% lower than 3Q 2019 on an organic and like-for-like basis, representing a sharp acceleration from the 23% gap booked in 2Q as Europe sales offset Asian weakness. Similarly, the operating margin should be wider on a two-year stack sequentially thanks to better operating leverage, Equita predicts. While the company continues to lag peers, "we remain confident on the medium-term recovery potential that will be entrusted to the new CEO [Marco] Gobbetti from January," Carboni says. (joshua.kirby@wsj.com; @joshualeokirby)
格林威治时间1200GMT-Equita Sim的Paola Carboni在11月更新之前表示，菲拉格慕第三季度的业绩应该会出现顶线和底线的回升，使这家意大利奢侈品公司保持在达到全年共识预期的轨道上。季度销售额应为2.57亿欧元，在有机和可比基础上比2019年第三季度下降约5%，较第二季度23%的缺口大幅加快，因为欧洲的销售额抵消了亚洲的疲软。Equita预测，同样，得益于更好的运营杠杆，两年期协议的运营利润率应该会按顺序扩大。虽然该公司继续落后于同行，但“我们仍对将委托给新任首席执行官的中期复苏潜力充满信心。[马可]1月份的戈贝蒂，“Carboni说。(joshoa.kirby@wsj.com；@joshoaleokirby)