The Italian shoemaker, which additionally owns Roger Vivier, Hogan and Fay, introduced on Wednesday its gross sales within the first half of 2021 elevated 55 % in comparison with the identical interval final yr, totalling €398 million ($470.6 million), however remains to be down 11 % relative to pre-pandemic occasions.
The uptick was led by robust restoration within the Larger China market, the place Tod’s gross sales elevated greater than 43 % since 2019. In the meantime, “the areas penalised by the absence of vacationers are nonetheless weak,” Diego Della Valle, chairman and chief government, mentioned in a press release. Tod’s direct-to-consumer gross sales additionally fell in comparison with 2019 ranges, dipping 6.7 % on a two-year foundation. Ebitda, or earnings earlier than revenue, taxes, depreciation and amortisation, within the first half of 2021 totalled €65 million ($76.8 million), in contrast with an working lack of €18.7 million ($22 million) within the first half of 2020.
Shares fell almost 3 % following Wednesday’s announcement.
Quarterly outcomes have highlighted a restoration in gross sales over the summer time, however the sector is bracing itself for additional lockdowns in Europe and potential post-election turmoil within the US.
https://www.businessoffashion.com/news/luxurious/tods-posts-strong-sales-growth-but-still-lags-behind-2019-levels | Tod’s Posts Robust Gross sales Progress However Nonetheless Lags Behind 2019 Ranges