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Salvatore Ferragamo delivers 'very satisfactory' end to 2014

Italian luxury group Salvatore Ferragamo said total sales in December delivered a “very satisfactory performance”, beating its own expectations.

While the group did not provide figures, chief executive Michele Norsa said the business experienced growth in all of its markets.

A stronger US dollar and falling prices for raw materials, twinned with high exposure in airport retail locations, was predicted to further boost performance in 2015, though Norsa said volatility is likely continue to affect consumer trends.

Total sales during the first nine months of 2014 were up 4.6% to €957m (£730m.) In November, the business said it expects results for the last quarter to grow at least in line with this, allowing it to match its 2013 core profit margin.

Speaking at the Milan stock exchange, Norsa said: “We closed 2014, which was an eventful year with a lot of volatility, with a very strong end of the year.”

He also pointed to the higher number of visitors at Pitti Uomo in Florence last week, also highlighted by Drapers.

Salvatore Ferragamo recently showcased its winter 15 men’s collection as part of Milan Fashion Week.

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