MILAN (AFX) - Luxury goods company Tod's SpA said first-half sales rose to 273.3 mln eur from 236.9 mln a year earlier, beating market expectations, and supported by growth in all its brands, and strength in sales of leather goods and in Asia.
Analysts polled by AFX News had expected sales of 264-268 mln eur.
On a constant currency basis, sales reached 271.9 mln eur, up 14.8 pct.
Tod's chairman and CEO Diego Della Valle said he expects the group to match its full-year targets on the back of strong orders for its winter collections.
In the second quarter, Tod's brand sales rose 15.1 pct to 164.2 mln eur, and Hogan sales were up 23.9 pct to 75.4 mln, while Fay rose 7.7 pct to 29.5 mln, and Roger Vivier was up 72.2 pct to 2.7 mln, it said.
In a breakdown by products, shoe sales rose 13 pct to 178.4 mln eur, leather goods were up 26.9 pct to 65.7 mln, and clothing up 7.5 pct at 28.8 mln.
Geographically, sales in Italy were up 17.6 pct to 126.0 mln eur, in the rest of Europe up 4.0 pct to 72.4 mln, in North America up 9.8 pct at 29.6, while in Asia and the rest of the world soared by 36.4 pct to 45.4 mln.
Sales via Tod's directly-owned stores rose 10.1 pct to 133.9 mln eur, while sales via franchising and independent outlets were up 21.0 pct at 139.4 mln. danilo.masoni@afxnews.com dm/rar COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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