By Olivia Bugault
Salvatore Ferragamo SpA said Tuesday that it returned to a net profit for the first nine months of the year as revenue rose 34%.
The Italian shoemaker posted a net profit of 37.5 million euros ($43.5 million), compared with a net loss of EUR96.5 million in the same period in 2020 when the coronavirus pandemic and related restrictions weighed more heavily on its sales.
Revenue rose to EUR785.3 million from EUR586.7 million.
The company said all its main product categories saw an increase in revenue during the period, and that revenue also grew across all its regions with North America reporting the strongest performance with 85% growth.
Overall, Asia remains Salvatore Ferragamo's top market, representing over 47% of total group revenues in the first nine months of the year.
In its third quarter, the company posted an operating profit of EUR18.6 million, strongly increasing compared with the same period in 2019, it said.
Write to Olivia Bugault at olivia.bugault@wsj.com
