Tod's: receding after quarterly sales
(CercleFinance.com) - Tod's Group dips 4.
2% in Milan the day after posting revenues down 5.2% to 226.1 million euros for the first quarter of 2018, weighed down by negative exchange differences.
At constant exchange rates, the luxury Italian fashion house, which also markets brands Hogan, Roger Vivier and Fay, saw its sales fall by 1.8% with a particularly weak performance in retail distribution (-4.4% on a comparable basis).
“From our point of view, visibility remains low”, estimates Bryan Garnier which maintains its 'Sell' recommendation with a target price of 60 euros on a share “which is already trading at a slight premium compared to peer average”.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2% in Milan the day after posting revenues down 5.2% to 226.1 million euros for the first quarter of 2018, weighed down by negative exchange differences.
At constant exchange rates, the luxury Italian fashion house, which also markets brands Hogan, Roger Vivier and Fay, saw its sales fall by 1.8% with a particularly weak performance in retail distribution (-4.4% on a comparable basis).
“From our point of view, visibility remains low”, estimates Bryan Garnier which maintains its 'Sell' recommendation with a target price of 60 euros on a share “which is already trading at a slight premium compared to peer average”.
Copyright (c) 2018 CercleFinance.com. All rights reserved.