MILAN — Tod’s SpA said Thursday that revenues in the six months ended June 30 rose 5.2 percent to 377.5 million euros, or $502 million, driven by gains in the U.S. and Asia, as well as the core footwear business.
Profit figures were not released. Full first-half financial results will be presented Aug. 26.
Chairman and chief executive officer Diego Della Valle defined the group’s first-half figures as “extremely good,” noting sales posted a strong acceleration in the second quarter, in particular in the company’s own stores. “These numbers are even more positive if considering the demanding base of comparison,” he said.
By label, the Tod’s brand saw sales rise 8.4 percent to 195.9 million euros, or $260 million, accounting for more than half of group revenues. Hogan sales grew 4.2 percent to 137.5 million euros, or $182.8 million. Apparel brand Fay showed an 11 percent decline to 34.3 million euros, or $45.6 million, affected by a different timing in spring-summer deliveries, said the company. Sales of Roger Vivier rose 28.3 percent to 9.5 million euros, or $12.6 million. However, the company said the brand “is still in a start-up phase, focused on preserving its exclusivity; therefore, the analysis of the sales trends is not fully meaningful.”
Dollar figures are converted at average exchange rates for the periods to which they refer.
Footwear continues to be the group’s core business, as sales of the category rose 8.3 percent to 282.4 million euros, or $375.6 million, in the period. The leather goods and accessories division showed a 2.4 percent decline to 57.8 million euros, or $76.8 million. Sales of apparel edged down 3.7 percent to 37 million euros, or $49.2 million. However, the firm said the period showed “positive results for the Hogan apparel collections.” Della Valle’s priority is growing Hogan’s two-year apparel business, which, until last spring, was designed by Thakoon Panichgul. It is now in the hands of a design team.
Geographically, sales in Italy were up 1.6 percent to 203.7 million euros, or $270.9 million. In the rest of Europe, revenues totaled 80.3 million euros, or $106.8 million, a 3.4 percent gain compared with the same period last year. U.S. revenues grew 11.2 percent to 25.5 million euros, or $33.9 million. Aggregate revenues for the rest of the world rose 17.3 percent to 68 million euros, or $90.4 million, led by China, Hong Kong, South Korea and Taiwan.