Report
Loic Morvan

TOD'S GROUP: Impressive sales momentum acceleration in Q4 | NEUTRAL vs. SELL | EUR40 VS. EUR33 (-1%)

TOD'S GROUP - NEUTRAL vs. SELL | EUR40 VS. EUR33 (-1%)
Impressive sales momentum acceleration in Q4

Q4 sales up 9.6% on 2Y
Impressive recovery in Italy and in US
Earnings lifted by 16%
Neutral vs Sell
Underlying
TOD'S S.p.A.

Tod's operates in the luxury sector under its proprietary brands (TOD'S, HOGAN and FAY) and licensed brands (ROGERVIVIER). Co. creates, produces and distributes shoes, leather goods and accessories, and apparel. The TOD'S brand is known for shoes and luxury leather goods. The HOGAN brand is known for shoe collections for women, men and children, and also crafts various leather goods items. FAY is a brand with a focus on casual wear. ROGERVIVIER brand includes shoes, handbags, small leather goods, jewelry and sunglasses.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Loic Morvan

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