MILANO (Reuters) – Sales at Italian fashion group Tod’s rose by a bigger-than-expected 16.4% in the first nine months of the year, pushed by tourist flows and local demand in Europe and Italy.
Revenues totalled 724.9 million euros ($738 million) in the period, above a 716 million euro forecast in an analyst consensus cited by Intesa Sanpaolo research.
“We are confident that we will be able to achieve good results also for the future,” Chairman and CEO Diego Della Valle said in a statement citing orders coming in for the spring/summer collection.
An attempt by the Della Valle family to take Tod’s private failed last month, after a takover tender fell short of the 90% ownership threshold needed for the de-listing.
The Della Valle family owns 64.5% of the company.($1 = 0.9829 euros)
(Reporting by Claudia Cristoferi; editing by Valentina Za)
