In the fourth quarter of 2017, sales totalled €241.1 million. “The trend was slightly negative, but better than in the first nine months of the year”, says Tod’s in a statement. At constant exchange rates, including the related effects of hedging derivatives, 2017 sales would have been €973.4 million Euros (-3.1% from the previous year), according to the report.

Sales of the Tod’s brand declined to €515.7 million in 2017 (-6%), while Hogan revenues were €203.9 million (-4.5%) in the period, partly attributed to a weakness of the Italian market. Roger Vivier recorded a total of €179.3 million in sales, up +9.7% from 2016, with positive results in all the main markets. Revenues for the Fay brand totalled €63.5 million, up +1.4% from the previous year, with the brand said to have registered positive results both in Italy and in the European countries.

Revenues from the footwear segment totalled €757.9 million in 2017, down 3.2%, but showed “a visible improvement in the fourth quarter”. Due to its greater exposure to wholesale, this category is also the most affected by the weakness of this channel, according to Tod’s. Sales of leather goods and accessories totalled €135.8 million, down -3.6% from 2016.

The results are said to be in line with the Group’s expectations.