MILAN, Nov 3 (Reuters) - Italian luxury shoe and bag maker Tod's SpA (TOD.MI) could post full-year results that are above market expectations if the Christmas period goes well, the company's chief executive Diego Della Valle said on Tuesday 3 November.

www.tods.com

In 2010, Tod's aims to improve margins, Della Valle added, speaking by video conference at the Pambianco fashion industry meeting, which said fashion companies could see turnover falling some 10 percent this year.

"On the basis of sales in recent days we will close 2009 well. If Christmas goes well we will post a year that is even better than market expectations," Della Valle said.

In October, Tod's chief financial officer told Reuters the group was likely to close the year with flat sales, adding the company prefers to be cautious over the key Christmas sales period.

If 2010 turns out to be less problematic than 2009 the company aimed to increase its EBITDA (earnings before interest, taxes, depreciation, amortisation) margins, Della Valle said.

Shares ended down 1.47 percent at 46.21 euros.

Italian fashion industry consultant Carlo Pambianco said a survey of 33 fashion companies showed they expected "timid recovery signals" for next year.

"Sales for spring/summer 2010 collections are seeing a substantially stable result. This would mean that the crisis has hit its lowest point and now the rise begins," he said.

Turnover for this year was seen falling 6.3 percent for companies that were faring better. "The final result could be worse with another 3-4 percentage fall in turnover," he said.

(Reporting by Cristina Carlevaro and Marie-Loiuse Gumuchian, writing by Stephen Jewkes; Editing by David Cowell)