Ferragamo’s shares rose nearly 6% on Tuesday after the luxury group confirmed its full-year profitability forecast, despite announcing a likely impairment write-down of 70 million to 90 million euros ($74 million to $95 million), primarily related to store lease agreements. While the write-down will have no cash impact, it highlights ongoing challenges in the company’s turnaround under CEO Marco Gobbetti. Ferragamo’s stock has lost almost half its value over the past year. Analysts expressed caution, noting that the impairment suggests limited visibility on the company’s medium-term recovery, with the group still projecting operating profit at the low end of analyst estimates, around 30 million euros ($31.5 million).