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North America, Asia-Pacific, and South America drive 4% organic sales growth, offsetting Middle East and Eastern Europe declines.
The Florence-based luxury company announced it returned to profit, but its stock fell on the Milan Stock Exchange on Tuesday.
The Florence-based company said that, despite falling sales in Europe and Asia, profitability and cash generation was driven by direct-to-consumer growth, cost control and optimization measures.
The former longtime CEO of The Estée Lauder Companies was appointed by Ferragamo Finanziaria SpA, the holding company of the Ferragamo family and the controlling shareholder of the fashion group.
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