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."
Italian fashion house Prada has seen sales growth slow during the first half, due to unfavourable exchange rates and weaker demand in Asia and Europe....
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...
US-based intimate apparel brand Spanx has hired former Nike global apparel and footwear executive, Jan Singer, as its chief executive officer....
Due to the growing middle class and increasing disposable incomes, Mexico is being targeted by international apparel specialist chains. Mexico has long been the favourite market in the Americas of Ind...
- Wearable technology a key trend for 2015
- Retailers react to India forced labour allegations
- Moisture management fabrics enter a new era
- Mexico urges fast-fashion brands to source locally
- COMMENT: Innovation is the name of the game
- Hazardous chemicals found in children's products
- VF rolls out plan to eliminate harmful chemicals
- October "a scary month" for US apparel retailers
- UK Primark supplier goes into administration
- Raising the minimum wage may reduce employment