By  on November 8, 2018

MILAN — Tod’s shares closed down 10.88 percent to 48.44 euros after a difficult day of trading on the Milan Bourse on Thursday, following the release of the Italian luxury group’s nine months results a day earlier.

As reported, Tod’s sales in the period ended Sept. 30 declined 2.2. percent to 706 million euros, compared with 722.2 million euros in the same period last year, as management said it would take some time to see the results of the new strategies set in motion by chairman and chief executive officer Diego Della Valle, which includes product drops throughout the year and capsule collections. At constant exchange rates, sales in the period were flat, up 0.1 percent. The Della Valle family has a 61.5 percent stake in the group.

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