Salvatore Ferragamo SpA

SFER: XMIL (ITA)
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Ferragamo Earnings: North America Drives Recovery; Leather Remains Subdued; Shares Expensive

Ferragamo reported sequential acceleration in sales growth to almost 5% in the quarter, from negative 1% earlier, both figures at constant currencies. Gross and operating profit margins improved. Shares traded down 7% in early trading on Aug. 4.

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