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Prada profits pinched as growth hard to chase
Versace costs and currency headwinds cut adjusted operating profit 14.3%, even as Prada and Miu Miu posted broad-based sales gains.
Summary by France24
9 Articles
9 Articles
Prada profits pinched as growth hard to chase
Yet the 15 percent drop in net profit, to 327 million euros ($377 million) beat the analyst consensus forecast established by FactSet. The owner of the Prada, Miu Miu and Versace saw revenue rise by 11 percent to 3.0 billion euros. The Milan-based fashion house called its results "solid" amid a general slump in the luxury sector that predates the war in the Middle East. But it warned that that growth opportunities were waning in the tough enviro…
·Issy-les-Moulineaux, France
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·London, United Kingdom
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Fashion house Prada, which includes Versace and Miu Miu alongside Prada, sold nearly a third less luxury clothing, shoes, and accessories in the Middle East in the first half of the year. This is evident from the group's half-year figures.
·Apeldoorn, Netherlands (Kingdom of the)
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Coverage Details
Total News Sources9
Leaning Left1Leaning Right2Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
Factuality
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