Tod’s Gross sales Down 2.2% in 9 Months, Stands by New Technique

MILAN — “Give us time.”
This was one of many messages Tod’s Group chief monetary officer Emilio Macellari delivered in commenting on the luxurious firm’s efficiency within the first 9 months of the yr. “We’re investing within the new merchandise that may generate a contribution and visibility, exhibiting that the model is energetic, not static, whereas protecting our high quality and Made in Italy excellence, however give us time,” Macellari mentioned throughout a name with analysts on Wednesday after the group reported a 2.2. % lower in revenues within the interval to Sept. 30.
Within the 9 months, gross sales totaled 706 million euros, in contrast with 722.2 million euros in the identical interval final yr. At fixed trade charges, they have been flat, up 0.1 %.
“At the moment’s outcomes have been broadly in step with our expectations,” said Diego Della Valle, chairman and chief government officer of the group. “We’re within the means of delivering to our shops the initiatives launched a couple of months in the past. In as of late, the preliminary results of the brand new enterprise mannequin that may help our future progress [Tod’s Factory] are beginning to be seen and, any longer, new merchandise will arrive in shops each two months, supported by sturdy and correct

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