By  on January 23, 2019

MILAN — Tod’s SpA is in the midst of an overhaul of its business model and, as expected, preliminary 2018 sales reported on Wednesday have yet to show a turnaround. In the 12 months ended Dec. 31, revenues fell 2.4 percent to 940.4 million euros, compared with 963.3 million euros in 2017. At constant exchange rates, sales were down 0.5 percent.

The results were dented by the group’s wholesale channel, a lackluster performance of its core footwear category, a drop in its leather goods division, and currency fluctuations.

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