Tod’s group 2018 revenues go into a decline (-2,4%): footwear and leather goods lose ground, brands slump. Della Valle preaches optimism though

Tod’s group made public their preliminary figures about 2018: at the end of the year the group’s revenues amounted to 940,4 million euros, therefore decreasing by 2,4%, at current rates of exchange, and dropping by 0,5% at fixed rates of exchange. Quite a disappointing performance, according to analysts’ expectations: in fact, Mediobanca’s forecast was about 948 million euros, in terms of earnings, while Banca Akros’s prediction was about 948,3 million euros. Revenues coming from footwear sales amounted to 743,6 million euros (-1,9% at current rates of exchange, percentage is unchanged at fixed rates of exchange), while revenues coming from leather goods and accessories reached 128,6 million euros (-5,3% at current rates of exchange, -3% at fixed rates of exchange). As for the brands performance, at current rates of exchange, Tod’s declined by 3,3%, Roger Vivier decreased by 3,2% and Fay dropped by 3,5%. The only good news comes from Hogan, which increased by 1,1%. The group’s negative accomplishment has been affected by Italian sales (-5,4%) alongside wholesale in America; conversely, sales have been going well in China. Diego Della Valle (in the picture) preaches confidence and optimism, while announcing they will buy some stocks to make new investments: “2018 financial year was basically in line with our expectations. Our business strategy and model, implemented through the Tod’s Factory plan, are progressively taking shape. Every month things are getting more and more important and definite, as products and projects, first developed, are proving to be rewarding. Aiming to support a rapid growth, we have decided to allocate all necessary assets, considering that such competitive and fast expanding markets require relevant investments to keep up with them. Our family appointed an international bank to buy a considerable block of shares”. In the morning Tod’s stock was rather in trouble, as it eventually slumped by over 6%. The group’s board of directors, who’s supposed to approve 2018 financial statements, is due to meet on March 11.

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