Report
Loic Morvan

TOD'S GROUP - SELL | EUR27(-44%) Close to breakeven in H1

TOD'S GROUP - SELL | EUR27(-44%)
Close to breakeven in H1

H1 sales down 11% on 2Y track despite an improvement in Q2
H1 close to breakeven, more investments to come in H2
No clear information about August trend in China
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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