Italy’s Ferragamo CEO sees no let-up in luxury sector slowdown

Slower economic growth in China, plunging oil prices, volatile exchange rates and security threats that have curbed tourist flows have all put the brakes on spending on upmarket handbags, shoes and other accessories.

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). Read more at Fashion Network