Tod’s first quarter revenue declines

Worldwide
Published:  14 May, 2019
Tod's library at Hudson Yards, New York

Consolidated sales for the Italian Group totalled €216.4 million in the first quarter of 2019, down 4.3% from the same quarter in 2018.

Sales of the Tod’s brand amounted to €106.4 million in the first quarter of 2019, down 11% on reported rates, year-on-year, while Hogan revenues were €54 million (-3.1%) in the quarter. Both declines were attributed to the performance of the wholesale channel, which was “particularly negative” but a return to retail growth was recorded. Sales of Roger Vivier totalled €43.9 million in the quarter, up 16.2% from the first quarter of 2018, and sales of Fay were €12 million; down -6.4% due to the weakness of the domestic market.

Revenues from shoes totalled €175.3 million in the quarter (-3.8%), while sales of leather goods and accessories totalled €27.6 million (-6.9%), both “penalised by the weakness of the wholesale channel”, but “good results” were recorded for the new families of the Tod’s brand. Geographically, sales were down in all regions except for Great China (+3.1); home market Italy -9.4%, Europe (excluding Italy) -4.8%, and Americas -1.3%.

Diego Della Valle, Chairman and CEO, Tod’s Group, said the strategic focus on the retail channel is paying off and sales on the Group’s e-commerce platform is growing “at a solid double-digit figure, and we plan to support it with resources and people to make it grow even faster”.