default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Tod’s Posts Strong Sales Growth But Still Lags Behind 2019 Levels

The interior of a Tod's store with shelving lined with leather shoes and handbags.
Shutterstock. (Shutterstock)

The Italian shoemaker, which also owns Roger Vivier, Hogan and Fay, announced on Wednesday its sales in the first half of 2021 increased 55 percent compared to the same period last year, totalling €398 million ($470.6 million), but is still down 11 percent relative to pre-pandemic times.

The uptick was led by strong recovery in the Greater China market, where Tod’s sales increased more than 43 percent since 2019. Meanwhile, “the areas penalised by the absence of tourists are still weak,” Diego Della Valle, chairman and chief executive, said in a statement. Tod’s direct-to-consumer sales also fell compared to 2019 levels, dipping 6.7 percent on a two-year basis. Ebitda, or earnings before income, taxes, depreciation and amortisation, in the first half of 2021 totalled €65 million ($76.8 million), compared with an operating loss of €18.7 million ($22 million) in the first half of 2020.

Shares fell nearly 3 percent following Wednesday’s announcement.

Learn more:

Luxury Sector Recovers in Time for Second Lockdown

Quarterly results have highlighted a recovery in sales over the summer, but the sector is bracing itself for further lockdowns in Europe and potential post-election turmoil in the US.

In This Article
Topics

© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Topics




view more

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
How to Build a Profitable DTC Brand
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
How to Build a Profitable DTC Brand