Salvatore Ferragamo SpA

SFER: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Salvatore Ferragamo: Revenue Under Pressure and Profit Squeeze Limits Potential for Investments

Jelena Sokolova

Oct 16, 2024

We are reducing our fair value estimate for no-moat Salvatore Ferragamo to EUR 7.10 from EUR 9.60 to factor in weaker performance in 2024 due to industrywide headwinds as well as a lower possibility of Ferragamo recovering strongly from this downturn given a lack of scale compared with its big peers and lower ability to invest in marketing and growth of the brand. We believe shares are fairly valued at current levels.

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Salvatore Ferragamo SpA

Salvatore Ferragamo: Revenue Under Pressure and Profit Squeeze Limits Potential for Investments

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