MILAN – Tod’s 2021 revenue beat expectations, and the company’s stock reflects its strong performance by soaring throughout Wednesday morning on the Milan Bourse and posting an 11.69% gain at 44.92 euros before noon CET.
The evening before, at the end of the trade, the Italian luxurious The merchandise company reported preliminary 2021 revenue back to hover around pre-COVID-19 levels, fueled by the acceleration of the Tod’s brand in the second half and strong growth from Roger Vivier, also such as stable retail performance and in Asia.
As reported, for the 12 months ended December 31, revenue amounted to €883.8 million, up 38.7 percent from €637.1 million in 2020. Compared to 2019, sales were down 3. ,5 percent.
The Group saw an acceleration in the final quarter of 2021, with sales increasing by 9.6% year-on-year in 2019. Compared to the last quarter of 2020, sales were up. 41.6% to 261.2 million euros.
Commenting on the performance, Tod’s . president and CEO Diego Della Valle said sales “will allow our team to return to the positive operating results already in fiscal 2021.”
In her report on Tuesday, Carole Madjo, luxurious Commodity equity research at Barclays, said the group’s profitability expectations beat consensus that “a loss of about 10 million euros is expected” and forecast the stock’s performance will skyrocketed.
Flavio Cereda, equity analyst at Jefferies, wrote in his report that the expected return to positive operating results in 2021 was “a positive surprise” and implied “benefit.” profit in the second half of 2019 above the level of 2019”.
In 2021, the group’s business in Great China very solid and total revenue reached 313.4 million euros, up 58.2% in 2020 and up 45.9% in 2019.
The company said the Asia and Rest of the World regions recorded an “excellent” fourth quarter, thanks to significant improvements in results for Japan and South Korea, where revenue largely exceeded sales. number of 2019 in the fourth quarter. The region reported revenue of 118.2 million euros, up 30.2% in 2020 and down 6.8% in 2019.
Revenue from the direct channel totaled 659.4 million euros last year, up 3.1% from 2019 and accounting for about 75% of total revenue. Compared to 2020, retail sales increased by 47.4%. The company cites strong local demand, also driven by local marketing initiatives and pop-ups.
https://wwd.com/business-news/financial/tods-shares-climb-sharply-following-strong-2021-sales-figures-report-1235053396/ Tod’s Shares Climb Sharply After Strong 2021 Sales Figures Report – WWD