Fourth quarter recovery not enough for Tod’s
30/01/2017
Following disappointing sales in the first nine months of the year, there was some respite in the fourth quarter, as sales increased 1.5% year-on-year to €246.3 million. Tod’s said this was due to the success of its Autumn/Winter collections.
Sales from the Tod’s brand dropped 6.7% to €559 million, which the group blamed on a “sharp decline” in traffic in its stores, partly caused by slower tourism flows.
Revenue from shoes fell 2.5% to €791.3 million, while sales of leathergoods and accessories dropped 9.4% to €142.5 million, although both showed significant improvements in Q4.
Domestic sales fell 3.5% during 2016, but there was a slight increase in sales in the rest of Europe. Sales were down considerably in the Americas (-8.4%) and in Greater China (-6.8%).
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