Italian luxury group Tod’s like-for-like sales should improve in the second quarter of the year and turn positive starting from the second half, its Chief Financial Officer Emilio Macellari said on Wednesday.
Italian luxury goods company Tod's said it may struggle to meet market expectations for earnings this year after a bigger than forecast 4.4 % drop in first-quarter revenue, driven by shrinking Italian and U.S. sales.
Italian luxury goods group Tod's warned it would be challenging to meet expectations of a 4 percent revenue increase this year, as first quarter sales fell due to weaker demand in China and shrinking tourist spending.
Italian luxury goods group Tod's is confident it can meet market expectations for a 5% rise in revenue this year and improve its core profit margin despite falling comparable store sales so far in 2016.
Italian luxury group Tod's reported an 18 percent fall in core profits on Thursday and said still weak Chinese consumer spending and cold weather in North America had also hit sales at the start of 2015.