Stock Market News
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)
