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NEWS

MILANO (Reuters) – Sales at Italian fashion group Tod’s rose by 17% in the first half of the year, broadly in line with market expectations, despite a COVID-driven slump in China in the second quarter.

Revenues totalled 467.5 million euros ($464.70 million) in the six months to June, pushed by Europe and Americas, while they fell by 19% in Greater China at constant exchange rates due to COVID-19 restrictions.

Operating profit improved to 17.7 million euros from a 2.7 million euros loss an year earlier, the company said on Wednesday.

Analysts had expected 464 million euros in sales and a 9 million euros EBIT, according to a Refintiv consensus.

($1 = 1.0060 euros)

 

(Reporting by Claudia Cristoferi, editing by Federico Maccioni)

 

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