Tod’s Posts Strong Sales Growth But Still Lags Behind 2019 Levels


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.

Study extra:

Luxury Sector Recovers in Time for Second Lockdown

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. | Tod’s Posts Robust Gross sales Progress However Nonetheless Lags Behind 2019 Ranges


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