Tod's: sales down at end-June.

(CercleFinance.com) - The Tod's share (-0.
2%) is only down slightly in Milan, despite yesterday's announcement after trading of a 2.7% y-o-y fall in sales at end-June to 483 million euros (-3.2% at constant exchange rates).

However, this decline is in line with analysts' expectations.

Meanwhile, EBITDA came in at 75.7 million euros, against 76.5 million expected by the consensus, while reported earnings reached 34.7 million euros, in line with the consensus.

The Italian luxury group is also confident about the future. Its CEO Diego Della Vale expects "a significant improvement in sales and margins in the future," in a context of the group's refocusing on the upmarket segment.


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