* 2010 net profit 111 mln euros vs 108 mln forecast
* To pay dividend of 2 euros
* Shares up 1.3 pct, outperform Milan bourse
(Adds details, quotes, shares)
MILAN, March 14 Italian luxury leather goods
maker Tod's (TOD.MI) hiked its dividend by one third and
forecast an excellent 2011 after strong demand in the United
States and Asia.
Analysts expect a wave of consolidation in the luxury
industry following French group LVMH's (LVMH.PA) purchase of
Italian jeweller Bulgari BULG.MI. Tod's, jeweller Tiffany
(TIF.N) and Burberry BRBY.MI are singled out as possible
takeover targets. [ID:nLDE72606B] [ID:nLDE7281ZB]
Tod's, the world's fourth-biggest footwear maker by market
value, posted 2010 net income of 110.8 million euros ($154.4
million), up 29 percent from the year before.
A Thomson Reuters I/B/E/S poll had forecast net profit of
108 million euros.
"I am confident that our group will achieve excellent
results also in the current year," Chairman and Chief Executive
Diego Della Valle said.
He cited a strong start to the spring/summer season in Tod's
stores and "positive signals" at the beginning of fall/winter
Tod's will pay a dividend of 2 euros, up 33 percent, after
sales in the United States rose 15 percent. Asian sales were up
The stock was up 1.3 percent at 77.1 euros at 1441 GMT,
recovering from earlier losses sparked by fears over its
exposure to Japan following the country's devastating
Milan's FTSE MIB .FTMIB was flat.
(Reporting by Ian Simpson; Editing by Erica Billingham)
($1 = 0.7177 euro)