Tod’s unconcerned by dip in sales in Q1
14/05/2019
Shoes made up the majority of this revenue, bringing in €175.3 million, 3.8% less than in 2018. Sales of leathergoods and accessories fell 6.9% to €27.6 million, while revenue from apparel was 4.9% lower at €13.4 million.
The group saw its revenue fall across all geographical regions, apart from Greater China, were it banked revenue of €50.2 million, up 3.1% year-on-year.
In terms of individual brands, there were declines in revenue for Tod’s (-11%), Hogan (-3.1%) and Fay (-6.4%), but the Roger Vivier brand saw its sales increase 16.2% compared to the first quarter of 2018.
Reacting to the results, Tod’s chairman and CEO, Diego Della Valle, said: “The return to retail growth is a positive indicator, which confirms the validity of the strategic decisions made. We are very pleased with the performance of our e-commerce, growing at a solid double-digit figure, and we plan to support it with resources and people to make it grow even faster.”
He added that it is “essential” that Tod’s continues to increase its investment in its products and brands. He also reiterated his belief that the group has selected the correct strategy moving forward.
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