×
461
Fashion Jobs
JOSEPH LTD
Full Time Menswear Supervisor (Mayfair)
Permanent · LONDON
MICHAEL KORS
Account Executive
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Flagship General Manager – Luxury Fashion – Regent st – £80k-£90k + Bonus
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Online Customer Service Manager
Permanent · HUNGERFORD
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Kings Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Notting Hill
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Showroom Sales Representative
Permanent · LONDON
TOO FACED
Business Manager - John Lewis Brent Cross
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Ltrtw & Mtm Client Service Manager – Luxury Ladieswear – Knightsbridge – £30k-£40k + Comm
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Haute Couture Client Service Manager – Luxury Ladieswear – Mayfair– £40k-£60k + Comm
Permanent · LONDON
MAJE
Sales Supervisor, Full-Time - Harrods, London
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Canary Wharf
Permanent · LONDON
HEAD OFFICE
Brand Manager
Permanent · LONDON
BETTY BARCLAY GROUP GMBH & CO KG
Retail Operations Manager
Permanent · LONDON
RETAIL PERM
Beauty Salon Manager
Permanent · LONDON
TOO FACED
Business Manager - Liverpool - New Mersey Retail pk (Speke), UK
Permanent ·
TOO FACED
Business Manager - Lisburn Sprucefield sc, UK
Permanent ·
TOO FACED
Business Manager - Stockton on Tees Teeside, UK
Permanent ·
TOO FACED
Business Manager Tamworth Ventura RP, UK
Permanent ·
TOO FACED
Business Manager - Cork Half Moon st., UK
Permanent ·

Tod’s economic indicators all down at end 2016, store closures on the cards

Translated by
Nicola Mira
Published
today Mar 16, 2017
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

The performance of Italian luxury footwear label Tod's in 2016 was very disappointing, and the group is seeking to right its course this year. All of Tod's economic indicators were down at the end of last year, and the group is pinning its hopes on a new store concept, a strengthening of its e-tailing business and of digital communications, and on organic store growth, as illustrated in the press release issued for the publication of Tod's annual results.


While Tod's apparel sales grew in 2016, those of accessories and footwear slumped - © PixelFormula


During a phone interview with financial analysts, group CFO Emilio Macellari explained that the start of 2017 has confirmed the improvement glimpsed in the fourth quarter 2016, especially in mainland China, where sales rebounded earlier this year after plummeting in the recent past.
 
However, the group will be forced to streamline its store network, and plans to close down between four and six stores this year, and to open only between nine and 13 new ones, compared to 15 in 2016 and 25 in 2015.

The Italian fashion group, owner of the Tod’s, Hogan, Fay and Roger Vivier labels, reported a revenue of €1.004 billion in the 2016 fiscal year, down 3.2% (-3.8% at constant exchange rates), a decline consistent across nearly all of its markets.
 
Last year its net income was €86.3 million, losing 6.9% compared to 2015, while EBIT was €128.3 million (-13.6%) and EBITDA reached €180.9 million (-10.7%). The latter figure is a fraction above the €179 million figure agreed on among the analysts interviewed by Thomson Reuters, with gross margin standing at 18% of total revenue, compared to 22.7% a year earlier.
 
Last year the company led by Diego Della Valle began to deploy a cost-reduction policy which is however expected to start bearing fruit in 2017. "Thanks also to a strengthened management team, we are confident in believing that we will achieve improved results already during the current fiscal year," wrote Tod's in the press release.
 
According to the group's CFO, in 2017 Tod's is expected to be able to reach its target of €1.040 billion in revenue and of €193 million in EBITDA.

Sales for the leading brand, Tod's, have notably fallen by 6.7% due to "the significant slump in store footfall," while Hogan’s sales lost 3.2% owing to a decrease in Italian consumer expenditure. Instead, Fay and Roger Vivier ended 2016 with a flourish, growing by 5.3% and 6.6% respectively, despite the decline in tourist customers. In terms of channels, the worst affected was the group's own-store network, whose sales fell by 4.3%.

Accessories and footwear both lost ground in 2016, while apparel sales, which were worth €68.3 million, rose by 2.2% in the same period.

The group has proposed a dividend of €1.70 per share for the 2016 fiscal year.

Copyright © 2019 FashionNetwork.com All rights reserved.