MILAN Jan 23 Italy's luxury shoemaker Tod's
said on Wednesday sales rose 7.8 percent in 2012 to
963.1 million euros ($1.28 billion), helped by a good
performance in Greater China.
The results were roughly in line with a Thomson Reuters
Starmine forecast for average sales of 966 million euros.
The maker of leather loafers has boosted its international
footprint to reduce exposure to recession-hit Italy, where sales
dropped 14.5 percent in the period.
"I am confident about 2012 group's net results, which I
believe will be higher than the oustanding level reached the
previous year," Tod's Chairman and CEO Diego Della Valle said.
Sales in Greater China accounted for about 19 percent of
overall revenues in the year, the company said.
Sales in North America rose 31 percent while those in Asia
and the rest of the world were up 48.7 percent.
Luxury stocks, including world number one and
domestic peer Salvatore Ferragamo, have rallied since
the start of the year on hopes of demand recovery in China but
concerns remain about a deep slowdown in southern Europe.
($1 = 0.7530 euros)
(Reporting by Francesca Landini)