Tod’s 9M sales up 3.1 percent

REPORT_ For the first nine months of 2013 (January 1-September 30, 2013), Tod’s consolidated

sales were up 0.4 percent compared to the same period in 2012. Tod’s brand sales were up 3.1 percent from the same period of 2012. The group’s EBIT in the first nine months of 2013 had a 22.4 percent margin on sales, broadly aligned with the margin of the corresponding period of 2012. The incidence on sales of depreciation and amortisation was 3.8 percent, exactly the same as in the nine months of 2012.

The American market confirmed its solid double-digit growth; in the first nine months of 2013 sales were up 13.6 percent from the nine months of 2012. Greater China continued to deliver excellent results. Revenues of this area in the first nine months of 2013 were 24 percent of consolidated turnover as of September 30, 2013.

Tod’s is based in Italy. Diego Della Valle, chairman and CEO of the group, commented: “In line with our plans, we achieved outstanding results abroad, mainly on the Asian and US markets. The group’s strategy – to pursue an international expansion while rationalizing the Italian wholesale distribution – is producing the expected results. Our group was able to confirm the excellent profitability level registered last year. We have done all the investments necessary for the development of the brands and of the distribution network.”