MILAN – Tod’s SpA shares on the Italian Bourse closed down 5 percent to 60.25 euros after soaring 17.39 percent to 63.45 euros on Monday.
Monday’s gain followed the release of the company’s first-half results on Aug. 3, which showed that, at constant exchange rates, both Tod’s and Roger Vivier’s revenues have returned to growth.
As reported, currency fluctuations affected the performance of the company in the first half, as the group reported a 2.8 percent decrease in net profit to 33.7 million euros from 34.7 million euros in the same period last year. Sales decreased 1.3 percent to 477 million euros from 483 million euros in the first six months last year, but at constant exchange rates, they grew 1.8 percent.
In particular, in the six months ended June 30, sales of the Tod’s brand decreased 3.4 percent to 256.2 million euros, inching up 0.1 percent at constant exchange, while sales of Roger Vivier decreased 2.3 percent to 90.4 million euros, but rose 2.6 percent at constant exchange.
Releasing the figures, the company’s chairman and chief executive officer Diego Della Valle said he was “confident” in the group’s performance in the coming months and that he believed it “will achieve good results in the current year.”
He also noted that the new collections in stores “are receiving positive feedback from our customers, who appreciate — as always — their high quality and their good taste, combined with a stronger and stronger component of creativity, needed to attract new clients.”
The group also showed its commitment in improving its online sales by announcing the purchase of Italiantouch Srl from its related company Diego Della Valle & C. Srl for 25 million euros. Italiantouch, which has sales of 21 million euros, is an e-commerce company, which, from the end of 2012, through its technological platform, sells the group’s products online. The transaction, which aims to internalize the experience of Italiantouch to accelerate the sales growth of the e-commerce channel, will be completed within September.