First-half dip in sales for Tod’s
12/08/2014
The group said its results had been affected by ongoing consolidation in its home market, Italy, as well as a “temporarily weak consumer environment in China” and by the temporary closure of two of its major boutiques in the US, including its New York Madison Avenue flagship store, which is undergoing refurbishment.
Overall, Tod’s brought in revenues of €477.7 million in the six-month period, a dip of 2.7% compared to the same period in 2013. Shoes accounted for 78.2% of this total, and leathergoods for another 16.1%.
Sales of the Tod’s brand were down 2% at €290.2 million, while those of Hogan fell by 6.1% to €104.5 million. Figures for the Fay brand show a drop of 4.9% to €22.8 million. Roger Vivier was the only one of the group’s brands to show growth, of 1.4%, to reach €59.8 million in sales.
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