Tod's Of Italy Says 2009 Revenue EUR713 Million, Up 0.8% Vs 2008
January 27 2010 - 2:52PM
Dow Jones News
Italian luxury goods maker Tod's SpA (TOD.MI) said Wednesday it
managed to boost sales last year despite the worst recession in
decades.
Full-year revenue in 2009 was EUR713 million, up 0.8% compared
to EUR708 million the previous year, the company said.
Tod's will release net profit figures for the year on March
24.
The Italian company, best known for its eponymous brand of
luxury handbags and footwear, said sales rose in Italy and Asia,
while dropping in other European markets and in the U.S., where
they fell a sharp 21.7% on the year.
By product, leather goods sales fell 12% compared to 2008, while
shoes sales rose 4.2%.
Like other Italian apparel companies such as Geox SpA (GEO.MI),
Tod's is improving its retail chain to increase long-term revenue
and strengthen the brand's image.
Revenue at the company's directly-owned store network, which
account for about half of all sales, rose 4% on the year.
Company Web site: http://www.tods.com
- By Chiara Vasarri, Dow Jones Newswires; 39 06 69766923;
chiara.vasarri@dowjones.com
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