(News Bulletin 247) – Ferragamo will publish its sales for the first quarter on April 20. Before this publication, the analyst confirms his advice to keep on the value with a target of 16 E.
Stifel expects a weak result, with organic net sales down 4% to 279 million euros 8% below the BBG and VA consensus.
‘The sequential improvement in the expected organic sales trend in the important retail channel (from -6% in Q4 to -1% in Q1) is a minor positive, in our view, and should be read in the context of a relative underperformance against its peers, which shows that the turnaround has not yet paid off,” says Stifel.
‘Mr. Davis’ new designs should be well received by both the older clientele and the new, younger clientele,’ adds the analysts’ office.
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