Tod’s third-quarter earnings: not getting out of trouble, revenues fell 2.2% in the first three quarters

On November 9th, Italian luxury goods group Tod’s recently released its earnings report. The financial report showed that the group’s sales fell 2.2% to 706 million euros in the first 9 months ended September 30, and sales were calculated at constant exchange rates. It fell 0.1% to 723 million euros.

It is worth noting that the sales of Tod’s brand, which is the core business of the Group, fell into a difficult position after a short-term growth in the second quarter. During the period, it fell 3.1% year-on-year to 376 million euros, after falling for 9 consecutive quarters. Sales of another brand, Fay, fell 2.8% to 43.5 million euros. Only Hogan brand revenue rose 0.9% to 159 million euros, recording a double-digit increase in China.

During the reporting period, Tod’s Group’s sales in the local market in Italy fell 4.4% year-on-year to 217 million euros, while revenue in other parts of Europe increased 0.8% to 184 million euros. Sales in the Americas fell 7.8% year-on-year to 5310. In the 10,000 euros, sales in the rest of the world fell by 0.5% to 98.5 million euros. In the most promising luxury market, Greater China also began to face challenges. Sales in the first three quarters fell by 1.7% to 152 million euros.