ITALY: Prada FY sales growth misses expectations
- FY group sales up 9%
- Europe sales grow 5%
- Sales miss analyst estimates
Sales in Europe grew 5%
Italian fashion house Prada booked full-year sales that missed analyst expectations today (13 February), amid economic weakness in Europe and a stronger Euro.
Revenues for the 12 months ended 31 January amounted to EUR3.59bn (US$4.91bn), a 9% increase on last year. Analysts on average were expecting sales of EUR3.67bn, according to Thomson Reuters data.
Sales in Europe grew just 5%, driven by the retail channel. Wholesale channel sales, however, were down on the previous year.
Asia Pacific sales were up 11%, with Greater China the main contributor of growth, while in America sales climbed 11%.
Bernstein Research analysts said that while Prada's sales missed expectations, it believes retail will continue to grow at around 15% as the store network becomes "more mature/efficient", adding: "The group's ability to open 80 stores pa proved once more this year and management guidance for a similar network extension next year."
Sports apparel is worn during workouts or any physical exercise to provide the wearer comfort and style. T-shirts, hoodies, shorts, and tracksuits are typical sport-specific apparel used while playing...
Synopsis Canadean's "Bluefly, Inc. - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products an...
- Myanmar - right time, right place, new challenges
- 3D printing gears up for fashion industry change
- Apparel working conditions linked to profit
- H&M adds transparency to yarn and fabric mills
- Factory strike shows Vietnam worker vulnerability
- Cambodia growth to slow on competition and cost
- China cotton imports to rise as Xinjiang cuts crop
- Adidas launches "lightest ever" football boot
- Cambodia factories reject labour rights claims
- Crystal first China licensee of RevoLaze tech