Salvatore Ferragamo will focus on boosting profits this year to combat lower growth in the luxury industry as a whole, its outgoing chief executive said on Sunday. Ferragamo posted a larger-than-expected 5 percent rise in first-quarter core profit in May but revenue fell 2 percent to 321 million euros ($362 million). Speaking before the brand's menswear show at Milan Men's Fashion Week, Chief Executive Michele Norsa said the luxury sector would have to focus on managing risks.
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Italy’s Ferragamo CEO sees no let-up in luxury sector slowdown
