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Saturday 16 July, 2016

Tods luxury goods group performance declined slightly

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According to the Italy luxury group Tods announced 2015 earnings report, affected by higher operating and financial costs, the group's net profit fell to 9270 euros from 9710 euros last year. For this year's retail network expansion, the group will consider reducing the shop plans and close some stores, especially the performance is particularly negative in Hongkong region.
Tods luxury goods group performance declined slightly
Chief financial officer Emilio Macellari revealed tods group is taking a more cautious approach, to expand its retail network, and plans this year to open 15 to 20 new stores. But because the group is considering closing some stores, it may lead to the final total number of stores less. In contrast, in 2015 the group opened a total of 25 new stores.
Global growth in the group's retail and wholesale channels, as well as the accelerated growth in the fourth quarter, Tods group's total revenue rose 7.4% to 10.4 euros. At a fixed exchange rate, sales rose 1.8%.
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Although many luxury brands for the current economic situation is very optimistic about the current fiscal year, many brands of CEO also believes that the brand will continue to grow. But a recent report from the foreign media to publish the expected current fiscal year 2016, the luxury goods industry slump will continue to slump.
Also the report also pointed out that under the catalysis of American consumers began to wait for the state to treat the consumption of luxury goods, and even many consumers are waiting for discount season started to buy, previous "buy buy buy characteristics by the economic slowdown, a strong dollar and other reasons, in order to static view of cautious attitude. This to a certain extent reflects the consumer's caution, but also proved that the current fiscal year 2016 in the luxury industry will therefore recorded a negative growth in sales of the main reasons.
It is reported that the 2015 fiscal year the global luxury industry recorded a 1.5% increase to 2.5 euros, but as a low growth of luxury goods market, the forecast will be recorded a decline of about 1%. The foreign media, said the survey, the 2016 fiscal year will be a year of low growth in the luxury industry.
In the past few weeks, many luxury brands and chain of department stores have released a report of the current quarter, despite a small number of brands recorded an increase, but the negative growth is luxury industry is currently the norm.

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