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Ferragamo’s H1 results beat expectations despite revenue decline

Italian luxury company Salvatore Ferragamo on August 1 reported a 41% YoY decline in operating profit for the first half of the year due to a slowdown in revenue across all major regions. At constant exchange rates, the group’s revenue fell by 6% in Q2. According to Italian brokerage firm Equita’s forecast, the company’s EBIT for the first half of the year was 28 million euros ($30 million), exceeding analysts’ expectations of 20 million euros ($22 million).

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