Luxury Italian group Tod’s has reported third-quarter sales ahead of pre-pandemic levels.
In the three months to September 30, the group’s consolidated sales came in at 224.3 million euros, up 14.6 percent from the same period a year ago and also ahead of 2019 levels.
Third-quarter sales through the group’s retail channel increased by 5.8 percent on a two-year basis to 155.7 million euros.
“The revenues of the third quarter confirmed the trend of improvement that we have begun to register for some time,” said group chair and CEO Diego Della Valle in a statement.
“We are particularly pleased to see that, in the quarter, retail revenues exceeded the values of 2019 and that the month of October is confirming this acceleration in sales results.”
In the first nine months of the year, Tod’s reported sales of 622.6 million euros, 37.6 percent higher than a year earlier, though still 6.9 percent below 2019 levels.
Roger Vivier is standout performer
Breaking it down by brand, sales at Roger Vivier were up 14.2 percent in the nine-month period compared to a year earlier, while sales at Tod’s, Hogan and Fay fell by 12.6 percent, 11.3 percent and 18.2 percent, respectively.
The group said the pandemic affected sales results in all geographic areas, product categories and on both distribution channels.
It said Hogan and Fay were the hardest hit due to their greater exposure to the Italian and European markets and to the wholesale channel.
“We are very happy with the results of the Tod’s brand, which is receiving very positive feedback on the autumn collections, in all product categories, since their arrival in stores,” the group said.