As it withdraws from the Milan Stock Exchange, Italian group Tod’s suffered in the first quarter of 2024 from poor sales in China and its shoes…
After announcing that it would no longer be listed on the Milan Stock Exchange, Tod’s may be posting its results for the last time. Alas, this latest quarterly vintage is far from flamboyant…
Sales of the group, owner of the famous eponymous moccasin brand, Roger Vivier and Hogan shoes and Fay clothing, fell between January and March 2024 by 4.7% at constant exchange rates to 258 million euros ($280 million).
This poor performance was due to a free-fall in sales (-21% to 69.8 million euros ($75.8 million) in the Greater China region (comprising mainland China, Hong Kong, Macau and Taiwan). According to the Group, this was marked by a sharp drop in store traffic and low consumption, as well as a difficult basis for comparison.
Weak Chinese market
The weakness of the Chinese market contrasts with the strength of the American market, where sales soared by 19.8% to 20 million euros ($21.7 million)!
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Featured photo : © Tod’s
