Tod’s Profits, Sales Down in 2018

MILAN — The performance of Tod’s SpA in 2018 reflected its new industrial plan and “the strategic decision to invest significant financial resources to support future revenue growth,” said chairman Diego Della Valle on Monday as the Italian group reported a 33.6 percent decrease in net profits last year. In the 12 months ended Dec. 31, earnings, net of minority interests, totaled 47.1 million euros, compared with 71 million euros in the previous year. Revenues decreased 2.4 percent to 940.5 million euros, compared with 963.3 million euros in 2017. “We are working to ensure that the development plan for the coming years can be fully implemented as soon as possible. We are convinced that the business model we are developing for each brand is the right one, especially considering the world of strong and well-structured brands we are competing with,” explained Della Valle, touting the quality of the group’s products and its retail distribution. “Improving its efficiency and sales results is one of the most important objectives, which would allow us to obtain the desired results quickly. The collections now in stores are collecting a very positive acceptance from our customers; the communication strategy, in all its forms and in all its channels,

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