Tod’s reported a 23 per cent rise in sales in Q1 of € 270.5 million, beating analysts’ predictions of € 252 million. Sales in the Greater China region were up 29 per cent, while sales in the United States rose by 6.6 per cent.
The strong performance was largely driven by an uptick in demand in China, with sales in the Greater China region up by 29 per cent in the first three months of the year. Tod’s Chairman and CEO expressed confidence in the group’s future results, citing good sales trends in April and strong orders for winter collections.
“Considering the good sales trends, we experienced in April and the excellent orders’ backlog for the winter collections, I’m confident about the group’s future results,” said Tod’s Chairman and CEO Diego Della Valle.
The company also saw growth in the Americas, particularly in the United States, where sales rose by 6.6 per cent. Tod’s CFO Emilio Macellari said he was confident of achieving the consensus sales figure for the year, which currently stands at €1.1 billion.
