August 3, 2018 / 4:09 PM / 10 months ago

Tod's new strategy seen appropriate as H1 results beat expectations

MILAN, Aug 3 (Reuters) - The CEO of Tod’s said on Friday results for the first half of the year confirmed the new strategy adopted by the Italian luxury group was appropriate and bearing first fruit.

The company, which embarked on a new strategy with the launch of multiple collections throughout the year and a focus on more traditional products, said it expected to see the first positive outcomes in the second half of this year.

First-half revenues, core profits and net income all beat analyst expectations but were all down with respect to the same period in 2017.

Same-store-sales growth was down 2.2 percent, with an improvement compared with the 4.4 percent drop recorded in the first quarter of the year.

Reporting by Giulia Segreti

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