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  "authorName": "Salvatore Ferragamo",
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      "text": "The results of the third Quarter have been impacted by the challenging macroeconomic and consumer environment and we expect this trend to continue in the last part of the year. Decreasing consumer confidence is most notable in Asia Pacific, being the main phenomenon impacting our sales performance. The secondary channel has also been affected by low traffic, which also continues to impact the wholesale environment. The current context adds pressure on our top-line and profitability, therefore delaying the timing of the delivery of our financial objectives. We pursue our work on the enrichment of the offer, together with marketing and retail actions to maximize the potential of the brand, through increasing engagement of new audiences with key products, and continuing the distinctive narrative and elevated in-store and on-line experience, while maintaining a strong operational discipline. These efforts have yielded encouraging results in the quarter through our primary sales in Europe, Japan, and Latin America, in all major product categories of our renewed continuative offer, in particular handbags and ladies' shoes, led by new icons.",
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