MILAN, May 14 (Reuters) - Italian luxury leather group Tod’s said on Wednesday it made 253.8 million euros ($348 million) in first-quarter net sales, a rise of 0.1 percent from the same period in the previous year.
The result came in above analyst expectations, which forecast sales for the period of 245.8 million euros on average, according to a Thomson Reuters SmartEstimate.
Tod‘s, famous for its bobble-bottomed driving shoes, said core earnings before interest, tax, depreciation and amortisation were 56.8 million euros, equal to 22.4 percent of sales.
Chief Executive Diego Della Valle said in a statement the group had received positive feedback for its winter collections and would continue investing in its distribution network and production capacity. ($1 = 0.7294 Euros) (Reporting by Isla Binnie, editing by Agnieszka Flak)