Tod's nine month sales drop 2.2 percent

Tod’s S.p.A. sales for the first nine months of 2018 were 722.7 million euros (826 million dollars), up 0.1 percent at constant exchange rates, while at reported rates, the company said, revenues totalled 706 million euros (807 million dollars), a decline of 2.2 percent; with Tod’s and Roger Vivier, which have the highest presence abroad, getting affected by currencies fluctuations. At constant exchange rates, Tod’s brand sales were 386.9 million euros (442 million dollars), down 0.4 percent at constant exchange and 3.1 percent at reported rates.

Commenting on the company’s performance, Group’s Chairman and CEO Diego Della Valle said in a statement: “Today’s results were broadly in line with our expectations. We are in the process of delivering to our stores the projects launched few months ago. The rationale for creating capsule collections or limited editions was to obtain innovative products, with a strong creativity content. These are innovative and right concepts for the "new consumer", who asks for an omni-channel service. Consistently, our e-commerce is growing a lot, and it will be able to grow even more, at full speed.”

Highlights of Tod’s nine month results

Hogan revenues were 159.3 million euros (182 million dollars) at constant rates, up 1.6 percent and 0.9 percent at reported rates from the same period of last year. The company said, double-digit growth of Europe and China, more than offset the persistent weakness of the Italian market. Sales of Roger Vivier totalled 132.3 million euros (151 million dollars) at constant rates, up 0.8 percent but down 3 percent at reported rates from nine months 2017. Sales of Fay were 43.5 million euros (49.7 million dollars); down 2.7 percent at constant and 2.8 percent at reported rares.

Revenues from shoes were 575.6 million euros (658 million dollars) at constant exchange rates, up 0.3 percent but declined by 2 percent at reported rates. Sales of leather goods and accessories were down 0.6 percent at constant exchange and 3.7 percent at reported rates. Finally, sales of apparel were down 1.5 percent at constant exchange and 1.8 percent at reported rates.

In the first nine months, sales through DOS totalled 449.4 million euros (514 million dollars) at constant rates, in line with the figure of the same period of 2017. At reported rates, the value stands at 436 million euros (499 million dollars). The same store sales growth was negative 2.1 percent in the first nine months of the year. As of September 30, 2018 the group’s distribution network composed of 279 DOS and 118 franchised stores, compared to 272 DOS and 114 franchised stores as of September 30, 2017.

Picture:Tod's website