Salvatore Ferragamo returns to profit in H1; consolidated revenues reach 468 million euros

Salvatore Ferragamo spa reported second-quarter revenues of 259 million euros (298 million dollars). This represents an increase of 2.4 percent compared to the 253 million euros in the second quarter of 2025, up 4.6 percent at constant exchange ratesDT.

Consolidated revenues for the first half of 2026 amounted to 468 million euros. This is an increase of 1.9 percent at constant exchange rates but a decrease of 1.3 percent at current exchange rates compared to the first half of 2025. The positive performance was driven by the direct-to-consumer channel, which saw an increase of 6.1 percent at constant exchange rates.

Today, Monday, August 3, the board of directors of Salvatore Ferragamo spa, the parent company of the Salvatore Ferragamo Group, reviewed and approved the half-year financial report as of June 30, 2026.

Group's strategy boosts DTC revenues

In the second quarter of 2026, the group continued to implement its strategy, making further progress in the direct-to-consumer (DTC) business. A company note explained that net DTC sales increased by 6.6 percent at constant exchange rates. This was mainly due to the performance of the primary channel; a higher proportion of full-price sales; and continuous improvements in the conversion rate, the number of units per transaction, and the average transaction value.

"An effective product offering, retail excellence and a targeted communication strategy remain at the core of the group's efforts to increase brand desirability, strengthen customer engagement and support the quality and sustainability of long-term performance," the management added in a statement.

"Building on the progress made in recent collections, the group has further refined its product architecture and implemented a series of consistent and targeted communication initiatives. These are aimed at increasing the visibility of key categories and iconic products, while ensuring a consistent brand expression across different markets and customer touchpoints," the company stated in the note.

Net profit in first half of 2026 reach 1.5 million euros

In the second quarter of 2026, the direct-to-consumer channel recorded a 6.6 percent increase in consolidated net sales at constant exchange rates (+4.8 percent at current exchange rates) compared to the same period last year. All regions showed growth at constant exchange rates.

In the first half of 2026, the gross margin was 324 million euros, compared to 321 million euros on June 30, 2025. This represented 69.2 percent of revenues, up from 67.7 percent on June 30, 2025. The increase was driven by a higher proportion of full-price sales and a trend towards purchasing higher-value products.

Gross operating profit (EBITDA) for the period under review was 90 million euros, compared to 73 million euros on June 30, 2025. This represented 19.2 percent of revenues, up from 15.3 percent on June 30, 2025.

Operating profit (EBIT) reached 21 million euros, compared to an adjusted loss of three million euros on June 30, 2025, while profit before tax was positive at six million euros, compared to an adjusted loss of 24 million euros on June 30, 2025.

In the first half period, net profit, including third-party results, was 1.5 million euros, compared to an adjusted loss of 16 million euros on June 30, 2025.

Investments as of June 30, 2026, amounted to 18 million euros, compared to 16 million euros in the same period of the previous year. This was mainly due to the renovation of the distribution network.