Tod’s reports 8% revenue increase
Italian luxury goods maker Tod’s has reported an 8% rise in revenues to EUR263.2 million for the first quarter of 2012, driven by strong sales in Asia and the US.
The firm did not report net profits for the quarter ended March 31, but operating profit climbed 2.4% to EUR57.3 million.
Chairman and chief executive Diego Della Valle said that the business has been expanding in Asia and the US where the brand has been enjoying strong double-digit growth rates.
By product category, sales of footwear rose 8.3% to EUR195.9 million. Leathergoods, comprising handbags and accessories, grew 15.3% to EUR39.9 million. Apparel sales dropped 3% to EUR27.2 million.