Tod’s, an Italian fashion group, has reported a robust 14.3 per cent increase in sales for the first nine months of the year. This growth is attributed to resilient European sales. Considering the third-quarter performance, the group currently views the analyst consensus of € 1.138 billion in sales and € 93 million in annual operating profit as attainable yet somewhat more demanding.
“It can be done but it really depends on the performance of the last quarter”, stated Emilio Macellari, Tod’s CFO, in a conference call with analysts. “I should say that considering the current situation, the slowdown in China, some difficulties all around the world also due to the situation of the Middle East tension and fears, this can be somehow a bit challenging”.
The challenge was more marked on the EBIT level rather than at the sales level, according to Macellari. Additionally, Tod’s revenues for January to September reached € 828.4 million, slightly exceeding the analyst consensus forecast of € 827 million in a consensus by Equita research.
“All our brands recorded double-digit growth in sales, thanks to the combination of solid local demand and tourist purchases,” stated Diego Della Valle, Chairman and CEO of Tod’s, in a statement.
Macellari added that Tod’s October sales trend resembled the third-quarter performance, emphasising the importance of the final quarter in determining the year-end outcome.
