By  on July 31, 2006

MILAN — Tod's SpA's first-half sales grew at a double-digit rate on increasing demand for its bags, shoes and apparel in all markets.

Revenues for the six months ended June 30 rose 15.4 percent to 273.3 million euros, or $336.2 million. Tod's said same-store sales rose 7.3 percent. The company will release first-half profit figures Sept. 12.

Dollar figures have been converted from the euro at average exchange rates for the periods to which they refer.

Tod's chairman and chief executive officer Diego Della Valle said the company's backlog of fall-winter orders makes him optimistic going forward.

"I'm really confident on the group's ability to achieve its targets in the current year and to continue to increase significantly its revenues and profitability ... in the next years," Della Valle said in a statement.

In the first half, sales at the mainstay Tod's brand rose 15.1 percent to 164.2 million euros, or $201.9 million. Revenues at Hogan climbed 23.9 percent to 75.4 million euros, or $92.7 million. Clothing brand Fay registered a sales increase of 7.7 percent to 29.5 million euros, or $36.3 million.

For the first time, the company broke out sales for luxury footwear brand Roger Vivier, where revenues in the first half rose 72.2 percent to 2.7 million euros, or $3.3 million.

Geographically, sales in Italy — Tod's single largest market — rose 17.6 percent to 126 million euros, or $154.9 million. Revenues in the rest of Europe grew 4 percent to 72.4 million euros, or $89.1 million.

As for Tod's smaller markets, sales rose 9.8 percent in North America to 29.5 million euros, or $36.3 million, while those in Asia and the rest of the world surged 36.4 percent to 45.4 million euros, or $55.8 million.

By product category, sales of shoes rose 13 percent to 178.4 million euros, or $219.4 million. Revenues from leather goods and accessories vaulted 26.9 percent to 65.7 million euros, or $80.8 million. Clothing, still a relatively small product category for Tod's, saw its sales gain 7.5 percent to 28.8 million euros, or $35.4 million.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus