Europe Movers: Brunello Cucinelli, Henkel, Ferragamo

Inga Muller
14 Mar, 2025
Frankfurt

Brunello Cucinelli S.p.A. gained 1.2% to €110.70 after the Italian boutique retailer reported higher sales in 2024.

Revenue increased to €1.28 billion from €1.14 billion, net profit edged up to €128.51 million from €123.81 million, and diluted earnings per share rose to €1.75 from €1.68 a year ago.

The company will propose a dividend of 94 cents per share to the shareholders' meeting on April 29.

The fashion retailer invested €109.5 million, and the company is looking to finish expanding its factories by 2026.

Salvatore Ferragamo S.p.A. traded flat at €3.36 after the Italian fashion retailer reported lower sales in 2024 and remained cautious on short-term expectations.

Revenue declined to €1.03 billion from €1.16 billion, and net profit swung to a loss of €68.09 million from a profit of €26.23 million a year ago.

In the fourth quarter, the direct-to-consumer channel posted net sales in line with the same period of last year, up 0.9% at constant exchange rates and down 0.1% at current exchange rates, with positive performances in Europe, the U.S., Japan, and Latin America, offsetting the persistent weakness in the Asia Pacific area.

The wholesale channel marked a decrease in net sales, down 19.3% at constant exchange rates and down 21.9% at current exchange rates versus the same quarter in 2023, reflecting a weak demand in the Asian markets and in the travel retail channel, also affected by a different timing in deliveries compared to the fourth quarter a year ago.

As of December 2024, investments were €71 million, in line with the €72 million spent in fiscal 2023, mainly focusing on the renovations of the retail network.