Editor
Italian luxury goods group Salvatore Ferragamo on Thursday said 2023 had started well after posting a smaller-than-expected 10.8 percent drop in operating profit for 2022, as it shouldered higher costs in a push to relaunch the brand.
Earnings before interest and tax (EBIT) came in at €128 million ($136 million), after rising marketing and communication expenditure drove operating costs up 21.3 percent year-on-year.
“We are encouraged by…
