TOD'S net income up by 16.9%

09 Sep '08

5 min read

Also in the rest of Europe, the Group posted positive results; revenues totalled 83.5 million Euros, with a 3.7% growth at constant exchange rates.

Sales on the US market grew by 8.2% in H1 2008, at constant exchange rates. Revenues on this market were 30 million Euros.
Finally, sales in the Rest of World totalled 51.4 million Euros; the growth at constant exchange rates was 12.9% and was mainly due to the outstanding results achieved in Far East and Middle East, where the Group is currently focusing the development of the distribution network.

Breakdown of Consolidated Sales by Distribution Channel: similar double-digit growth in all the channels:
Revenues through DOS totalled 162.3 million Euros; at constant exchange rates, the 12.3% increase was driven both by the organic growth of the existing stores and by the new openings made in the period.

The Same Store Sales Growth (SSSG) rate, calculated on comparable figures as the worldwide average of sales growth rates reported by DOS opened as of January 1st, 2007 , was 3.4% for the first 32 weeks of 2008 (from January 1st to August 3rd, 2008).

As already reported in our previous press releases, in the first half of 2008 the Group made important inaugurations, such as: the Rome flagship store, in Via dei Condotti, entirely dedicated to women's collections; the large restructuring according to the new concept of the largest Tod's boutique of the world, located in Milan, Via della Spiga and the opening of the “maison” Roger Vivier in Milan, spread on four stories in a prestigious XVIII century building in Via Sant'Andrea.

In addition, the Group strongly enhanced its presence in mainland China, with nine new DOS openings (four of which were conversions of franchised stores) and opened the first two DOS in India, with prestigious locations in Mumbay and Bangalore.

As of June 30th, 2008 the Group's distribution network is therefore composed by 138 DOS and 63 franchised stores, compared to 116 DOS and 68 franchised stores as of June 30th, 2007.

In July and in August six DOS1 and one franchised store were added;the Group's distribution network includes 144 DOS and 63 franchised stores.Revenues to third parties totalled 184.7 million Euros in H1 2008; the growth versus the first half of 2007 was 12.2%, at constant exchange rates.

TOD'S S.p.A.

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