By  on May 9, 2019

MILAN — Tod’s SpA on Thursday reported a drop in first-quarter revenue and cast doubt on its ability to reach full-year analyst consensus targets for top-line growth and profitability.

During a conference call after results were published, chief financial officer Emilio Macellari said meeting full-year analyst consensus estimates would be “a bit challenging” in part due to increasing operating expenses the company will incur as it invests more resources in marketing and retail in order to “increase the visibility and desirability” of its products. In March, the company had said meeting a consensus of 3 percent top-line growth in 2019 was “reasonable and not particularly challenging.”

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