Drop in sales for Tod’s leather goods

Worldwide
Published:  26 October, 2016

Italian luxury Group, Tod’s, has reported a weaker sales performance for both its leather goods and footwear divisions in the first nine months of 2016.

Tod’s Group has reported consolidated sales of €757.7 million in the first nine months of 2016, down 3.7% compared with the same period in 2015. At constant exchange rates, and including the related effects of hedging contracts, sales would have been €751.9 million, down 4.4% from the prior year.

The Tod’s brand registered total sales of €419.4 million in the period, down -8.4% at constant exchange rates, and reflecting “the weakness in consumption in major markets for luxury goods, mainly due to the sharp decline of tourist flows”, according to the company.

Hogan sales totalled €171.9 million, down 2.8% over the same period in 2015, while revenues of the Fay brand were €45.5 million, up 4.1% against 2015. All the geographical areas, where Fay is distributed, were reported positive; strong results in the Asian markets, which grew double-digit, even if on very small volumes.

Footwear brand Roger Vivier also registered positive growth in the period with sales totalling €119.8 million, up 6.9%, with a visible acceleration observed in the third quarter. All the markets were positive, with the exception of U.S.

Overall, revenues from shoes were €603.3 million in the first nine months of 2016, down 3.89% at constant rates. Sales of leather goods and accessories totalled €103.8 million (-11.8% at constant rates), but showing a slight improvement in the third quarter, driven by the success registered by the new Autumn/Winter collections. Sales of apparel were €49.5 million, +0.9%; slightly higher than in the same period of 2015.

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