MILAN May 14 Italian luxury shoemaker Tod's SpA
said core earnings fell 4.6 percent in the first
quarter as strong growth in international sales failed to offset
the effects of a prolonged recession in its domestic market.
Tod's said earnings before interest, tax, depreciation and
amortisation (EBITDA) stood at 63.6 million euros ($82.5
The owner of the Hogan, Fay and Roger Vivier brands, which
sells around 40 percent of its products in Italy, said sales
rose strongly in China and the Americas, giving it confidence
that overall sales and profits will grow in 2013.
"Significant attention has been given to the Americas and
Chinese markets, where our brands are demonstrating to have
strong potentials," said chairman and chief executive Diego
(Reporting By Isla Binnie, editing by Silvia Aloisi)