Tod’s sales rise above forecasts in first quarter

2022.05.11 19:16

Shoes of Italian luxury shoemaker Tod’s are displayed in the window of the company’s store in Zurich, Switzerland, April 25, 2019. REUTERS/Arnd Wiegmann

MILAN (Reuters) – Sales at Italian fashion group Tod’s rose by 23% in the first quarter, extending a recovery that started last year and beating market expectations despite a slowdown in China in March.

Revenues totalled 219.6 million euros ($231.68 million) in the period, driven by Europe and Americas, while revenues in China were hit by a new round of COVID restrictions.

Overall quarterly sales are a touch above 2019 levels, before the pandemic hit.

Analysts had expected 212 million euros sales, according to a consensus cited by broker Equita.

($1 = 0.9479 euros)

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