By  on May 13, 2015

MILAN — Italy’s Tod’s Group SpA on Wednesday reported a 17.3 percent drop in profitability on a 1.5 percent rise in sales on the back of a weak performance at the main Tod’s brand and increased investments.

The company doesn’t report net profit figures for the period. However, earnings before interest, taxes, depreciation and amortization were 47 million euros, or $53.11 million, down from 56.8 million euros, or $77.82 million, in the year-ago period. “In this quarter we register a temporary decline in the group’s profitability, due to the strategic decision to continue to invest in distribution network, communication, human resources and production capacity, notwithstanding the temporary lack of revenue growth,” the company said.

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