Leading luxury leather goods group Tod's yesterday reported a 28.5 per cent jump in first quarter earnings to 21.6 million euros compared to the year-ago period on the back of a 16.8 per cent rise in turnover to 105.2 million euros.

Commenting on the results, Tod#;s chairman and CEO, Diego Della Valle, said: "In the last few days we have seen an unjustified and unexpected slowdown in consumer spending and we are still not able to fully evaluate the effect on our sales.