Tod’s Second-Quarter Miss Is Significant

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Aug. 8 (Bloomberg) -- Tod’s significant shortfall versus low market expectations in the second-quarter, and the cut to 2014 consensus estimates, are likely to hurt the stock price. Caroline Hyde reports on ”The Pulse.” (Source: Bloomberg)

Eking it down the road.

Tod's has a falloff, the worst day for the share price on record.

The reason is because sales significantly missed.

So that were the numbers that came out yesterday, bank of america, merrill lynch, deutsche bank, exxon, bnp paribas have sl ashed their price tag for tod's. the sales were off by .5 of eight percentage point.

Profit down by 26%. where you are seeing the spending falling off is italy, down 8%. china, 25% of their sales are from china for luxury shoes.

They had a man bag.

Down 4%. i was hoping you would be sporting a man bag.

Europe did ok.

France, the spending there seems to has picked up.

Whether or not that is taurus spending.

I wish we could see how much of this is russian purchases.

Fascinating story saying italy is the country hardest hit by the weakness in the ruble.

Russians have gone with their tax-free spending to italy, that is where most of the luxury brands are.

25% to 33% of all tax-free purchases are done by the russians, that has slumped by about 25% in the last three months.

The russian crisis, the weakening of the ruble is ea ting in two to tiny luxury.

I'm going to wrap up.

The question of whether it is going to be a big target -- bid target.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change