World Footwear

Companies

Tod’s improves performance in the last quarter

Feb 1, 2017 Italy
Tod’s improves performance in the last quarter
Poor performance by the categories Shoes and Leather Goods and Accessories (-3.0% and -10.9%). Revenue grows as driven by Apparel and Other products
“The improvement of the sales trend registered in the last quarter of the year confirmed the good reception from customers for the winter collections. As far as ecommerce is concerned, our structure will become even more efficient, ready to catch all the opportunities that the market will offer”, commented Diego Della Valle, Chairman and CEO of the Tod's Group, adding: “We remain highly focused on organic growth of the existing stores ... and on the opening of some “new generation stores”, which will be able to attract clients through the totally new shopping experience.”

Consolidated sales for Tod’s reached 1 004.0 million euros in financial year 2016, down by 3.2% from the previous year. During the last quarter of 2016 sales totaled 246.3 million euros, down by 1.5% from similar period last year. This result implies a significant improvement compared to the first nine months of the year.

Tod’s brand sales totaled 559 million euros in fiscal year 2016 and the 6.7% decrease from the previous year is mainly due to the sharp decline of traffic in stores, in particular of tourists.

Hogan revenues totaled 214.2 million euros, with a 3.2% decrease from 2015, mainly related to the domestic market. Revenues of the Fay brand reached 62.6 million euros, up by 5.3% from 2015, with a sharp acceleration in the fourth quarter. The brand is continuing its internationalization process with positive results in all the regions where it is distributed. Finally, sales of Roger Vivier totaled 166.3 million euros, up by 6.6% from the previous year.

Sales of leather goods and accessories totaled 142.5 million euros, down by 9.4% from 2015. Sales of apparel were 68.3 million euros, up by 2.2% from 2015.
 
Domestic sales totaled 311.5 million euros, down by 3.5% from 2015, but with a visible improvement of the trend in the fourth quarter. In the rest of Europe, the group’s revenue totaled 250 million euros, slightly higher than in 2015. In the Americas sales amounted to 96.7 million euros, down by 8.4% from the previous year. This market confirmed the weak consumer environment. Tod's revenue in Greater China totaled 210.3 million euros, down by 6.8% from the previous year. Mainland China and Macao registered positive results, while Hong Kong remained weak, even if visibly improving. In the area Rest of the World the group's sales totaled 135.5 million euros, slightly higher than last year.

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