×
461
Fashion Jobs
ESME CONSUMER PVT.LTD
Area Sales Manager
Permanent · Asansol
SUN PHARMA
Manager - Project Management Office(Pmo)
Permanent · Guwahati
ESME CONSUMER PVT.LTD
Area Sales Manager
Permanent · Bengaluru
ESME CONSUMER PVT.LTD
Area Sales Manager
Permanent · Aurangabad
ADITYA BIRLA FINANCE
Sales Manager - Business Loan - Dsa Channel For Gujarat Location
Permanent · Bharuch
NATURES ESSENCE
Area Sales Manager
Permanent · Ahmedabad
DR LAL PATHLABS
Area Sales Manager- Haldwani | dr Lal Pathlabs
Permanent · Haldwani
360 REALTORS
Sales Team Leader/Area Sales Manager/Sales Manager
Permanent · Pune
NIKE
Lead Technical Product Manager, ed&a – Tpmo
Permanent · Bengaluru
PENNAR INDUSTRIES
Sales Manager - Solar Panel
Permanent · Hyderabad
ADIDAS
Manager Information Security
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant
Permanent · GURUGRAM
ADIDAS
Senior Manager Information Security
Permanent · GURUGRAM
ADIDAS
Manager Information Security
Permanent · GURUGRAM
DANIEL WELLINGTON
IT Support Specialist
Permanent · NAVI MUMBAI
NIKE
Manager, Product Management, Partners & Marketplace Engineering – Tpmo
Permanent · Bengaluru
BAJAJ FINANCE
Area Sales Manager
Permanent · Bengaluru
CHAMPION JOINTINGS
Area Sales Manager - Banglore - Coimbatore - Chennai
Permanent · Mumbai
CHAMPION JOINTINGS
Area Sales Manager - Hyderabad - Vishakapatnam
Permanent · Mumbai
DIAMOND WHITE CEMENT
Area Sales Manager/ Sales Officer/ Sales Manager- Paints & Putties
Permanent · Begusarai
DIAMOND WHITE CEMENT
Area Sales Manager/ Sales Officer/ Sales Manager- Paints & Putties
Permanent · Begusarai
Published
May 19, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Tod’s: a lacklustre first quarter

Published
May 19, 2015

Tod’s Group saw a lackluster start to 2015. The commitment of significant investments in its retail network have continued to weigh heavily on the Italian luxury shoemakers accounts, which have been burdened by rising rents and labor costs associated with hiring personnel for its new stores. 

In the first three months of the year, Tod's recorded a turnover of 257.7 million euros (+1.5% at current exchange rates, -3.1% at constant exchange rates), while its Ebitda fell by 17.2% to 47 million euros and its Ebit fell by 24.2% to 35.1 million euros compared to the first quarter of 2014, the company announced in a statement.

The interior of the Tod's store on Madison Avenue in New York - Ansa

 
"The quarter's results reflect a still challenging economic and monetary environment, with the persistent weakness of some important markets for luxury goods," said CEO, Diego Della Valle, recalling that "short term profitability has been temporarily impacted by the investments made in recent years, but we are confident we will recover it, or may even improve it, in a midterm perspective.“ 

For the 1st quarter of 2015, the group’s accessories and leather goods sales decreased by 10.4% (-15.7% at constant exchange rates) to 37 million euros due to issues with the timing of deliveries, according to Tod's. With a turnover of 204.4 million euros, footwear continued to account for the lion's share of the company’s business, with sales rising by 4.3% (-0.5% at constant exchange rates) over the same period. 

The streamlining of distribution on the domestic market and the focus on the Hogan and Fay brands have begun to bear fruit. In the first three months of the year, sales of these two brands have respectively increased by 3.7% to 68 million euros and 1.6% to 14.2 million. 

Tod’s, the group's flagship brand, on the other hand, saw its sales fall by 0.3% (-5.9% at constant exchange rates) over the same period, with a turnover of 142.3 million euros. It’s also worth noting the slowdown in the luxury footwear label Roger Vivier, the sales of which increased by 1.5% (-3.1% at constant exchange rates), as compared to a 20% increase in Q1 2014. 

All markets saw gains except for Greater China: -3.9% (-15% at constant exchange rates). With a turnover of 53.9 million euros as of March 31, the country accounts for 20% of group’s total sales.

€1 = $1.11/£0.72

Copyright © 2022 FashionNetwork.com All rights reserved.