Tod’s Group sees 2023 off to a strong start

Tod’s chairman and CEO Diego Della Valle said the Italian luxury group, which owns Tod’s, Roger Vivier, Hogan and Fay, had a good start to the year after the company posted better-than-expected 2022 profits. EBIT was. 58.2 million euros ($62.4 million), beating analysts’ expectations of 47 million euros, and net profit was 23.1 million euros, compared to a loss of 5.9 million euros in 2021. Revenues rose 13.9 percent in 2022, confirming preliminary sales results. for the year issued in January.

Despite the profit gains, the group’s board decided not to distribute dividends.

“In 2022, we successfully laid the foundation for future turnover growth…” said President and CEO Diego Della Valle. “Now that the organizational structure is ready and the necessary investments are underway, we expect medium-term turnover growth and, therefore, very satisfactory profitability.”

Della Valle’s family scrapped the buyout plan in October 2022 after failing to reach the 90 percent ownership threshold needed to take the company private.

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Della Valle Family Refuses Tod’s Buyout, Stocks Fall

The founding family of Italian luxury shoe maker Tod’s said Wednesday it would not proceed with a planned purchase of the company after it failed to meet the 90 percent ownership threshold needed to take it private.

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