×
456
Fashion Jobs
MAJE
Supervisor - Selfridges, London
Permanent · LONDON
HARRODS
Technogym -Wellness Consultant
Permanent · LONDON
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 ·
Advertisements

Tod's family owner to keep investing despite sliding sales

By
Reuters API
Published
today Aug 8, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Italian shoemaker Tod's said on Wednesday it would push on with investments in promoting its brands and that falling sales had not tempted the controlling family to take the luxury firm private.


Tod's - Fall-Winter2019 - Womenswear - Milan - © PixelFormula



The group, best known for its 450 euro (£415) per pair Gommino loafers, has been struggling for several years to rejuvenate its brands in a crowded marketplace and boost sluggish sales.

Group sales fell to 454.6 million euros in the first half of the year, 4.7% below the same period in 2018. The rate of growth in sales from its directly-owned stores (same store sales growth) fell 4.5%.

Positive news came from its retail channel, where sales rose 6.5%, driven by its online platform.

Chief Financial Officer Emilio Macellari told analysts on a conference call the company expected full-year results to be similar to those achieved in the first half.
In May, Macellari had told analysts that meeting the market's expectations for 2019 results could be challenging.

Chairman and Chief Executive Officer Diego Della Valle's family has been gradually building its holding to 64% of the company, whose stable of brands also includes Hogan, Fay and Roger Vivier.

Della Valle, a well-known businessman in Italy, said in a statement he and his family were confident in their strategy for Tod's and would continue to buy company shares.

"The real challenge for us now is to become even more attractive for the young customers who live in the new markets ... we need to increase our investments to be more attractive and visible," Della Valle said.

Macellari said that as far as he knew, the family had not considered the possibility of taking the company private.

Asked by analysts about whether the major shareholders believed in the company's future, Chief Executive Officer Umberto Macchi di Cellere said: "The family is very convinced that this is definitely not a lost battle at all."

Tod's reported a net loss of 6 million euros for the period.

© Thomson Reuters 2019 All rights reserved.