Tod’s H1 sales up but down on pre-pandemic figures

Italy
Published:  09 September, 2021

Sales at footwear and luxury goods brand Tod's grew by almost 60% in the first half of the year thanks to an acceleration in the second quarter, though at constant exchange rates they are still 11% below 2019 pre-coronavirus levels, the Italian fashion group said on September 8.

The Italian luxury leather goods maker said its loss before interest and tax narrowed to €2.7 million ($3.19 million) in the first six months of the year from €94.1 million a year ago.

"The increase in volumes and the quality of revenues, together with the careful control of overhead costs, will allow us to achieve a gradual improvement in margins," Chairman and main shareholder Diego Della Valle said in a statement.

The Italian group said sales had risen to €398 million in the first half, slightly above analyst forecasts of €389 million.

Source: Nasdaq