Tod's: abandoned after 9m trading update.
(CercleFinance.com) - The Tod's Group share is down over 3% in Milan today, the day after the luxury shoes maker unveiled sales that were down 4.
7% at 722.2 million euros (to 30 September), below Aurel BGC's estimate of 732 million euros.
These results have been affected by some unexpected late deliveries and certain weakness in the wholesaler channel, said CEO Diego Della Valle, who remains confident however that FY results will be in line with market expectations.
The trends are still very weak for the group, while sector leaders (LVMH, Kering) have been experiencing a particularly prosperous year in 2017, in a more buoyant market environment since the end of the summer of 2016, Aurel BGC said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.