Tod’s 2010 Profit Up

Tod’s 2010 Profit Up
Tod’s Bal Harbour store.

Profit surged at Italian luxury leather goods maker Tod’s SpA last year.

For the year ended Dec. 31, 2010, the group, which owns such labels as Tod’s, Hogan and Roger Vivier, earned a net income of 109.1 million euros, or $152.7 million at current exchange, representing a 27 percent increase over 2009.

Earnings per share were 3.56 euros, or $4.98, up from 2.80 euros, or $3.92, a year ago.

Revenue for the year totaled 806.4 million euros, or $1.13 billion, an 11 percent increase over 728.6 euros, or $1.02 billion, in 2009.

In a statement, the group said strongest growth across all brands was seen in the second half. Roger Vivier sales grew the most, at 45 percent year over year. The Tod’s brand, which grew 17 percent, now makes up just more than half of total brand sales.

Sales of footwear, the group’s core business, grew 12 percent in the year. Handbags and accessories were a close second at 11 percent, while ready-to-wear grew 4 percent.

By region, Asia and other regions outside of Europe and the U.S. did best, growing a consolidated 31 percent. North American sales rose 15 percent while Europe advanced 9 percent.

Diego Della Valle, president and CEO of Tod’s group, said in a statement that 2010 was a year of “excellent results, in terms of revenues, but even more so in terms of profitability.”

“Given the strong organic growth we are seeing in our retail channel and the positive signals we are registering in futures orders for upcoming fall/winter,” he said, “I am confident that our group will see excellent results in the coming year.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s