Tod’s reports 5% growth in revenues
Italian luxury goods group Tod’s S.p.A, which sells shoes, leather goods and apparel under its Tod’s, Hogan and Fay brands, has released preliminary figures of consolidated sales for the year 2004. Consolidated turnover for the year $427.6 million at constant rates, an increase of 15.1% compared with the $371.4 million posted in 2003. After currency adjustments, the group’s revenues are reported to be $420.8 million, a 13.3% increase on the previous year. The last quarter of 2004 confirmed the excellent sale trend posted during the previous months of the year.
Tod’s remains the group’s main brand with a turnover of $239.9 million, which represents 57% of consolidated revenues. Sales of this brand posted a 15% growth during 2004 at constant rates. Hogan sales increased by 18.9% at constant rates and represented 24.3% of the group’s turnover as of December 31st, 2004. Fay revenues increased by 5.9%. As of December 31, 2004, Fay revenues represent 16.3% of consolidated turnover.
According to the company, all product categories achieved outstanding growth rates in 2004. Shoes led the way, showing an increase of 14.3% at constant rates, thus remaining the main Group’s product category with 63.7% of consolidated revenues. Sales of leather goods increased by 25.2%. This has been attributed, in part, to the success of the new leather accessories range that was launched recently. Leather goods and accessories together represented 20.1% of consolidated turnover for the year.
“We are very satisfied with the excellent sales figures. The fourth quarter of the year showed an important acceleration of the organic growth as compared to the brilliant figures already registered in the previous months, confirming once again the full success gained among our customers by all our product categories,” said Diego Della Valle, chairman and CEO of Tod’s SpA.
