Arab Today, arab today prada net profit drops 28 in challenging market conditions
Last Updated : GMT 15:11:09
Arab Today, arab today
Arab Today, arab today

Prada net profit drops 28% in 'challenging' market conditions

Arab Today, arab today

Arab Today, arab today Prada net profit drops 28% in 'challenging' market conditions

Prada which also includes brands Miu Miu
Milan - AFP

Italian luxury group Prada said Friday its nine-month profit dropped by 27.6 percent to 319.3 million euros ($394.9 million) due to challenging market conditions but expressed confidence in the medium-term outlook for the sector.
Sales at the group which also includes brands Miu Miu, Church's shoes and Car Shoe dipped 0.9 percent to 2.55 billion euros in the nine months to the end of October in its non-standard reporting year.
Prada said the period was "characterised also by unfavourable exchange rates trend for most of the nine months period and spoilt by some still enduring geo-political issues" in an earnings statement.
Chief executive Patrizio Bertelli said 2014 turned out to be more challenging than expected.
"On top of the ongoing difficult international economic environment, the luxury goods market is undergoing a certain readjustment, the extent and nature of which is not yet entirely clear," said Bertelli.
However he expressed confidence in the medium-term growth outlook, which combined with the company's efforts to increase efficiency and the performance of its stores should help ensure Prada achieves satisfactory levels of profitability.
All of its products lines saw increased sales in the nine months save for leather goods.
While the Asia-Pacific region had been a major source of growth for luxury companies until recently, Prada's sales there dipped by 3.1 percent, reflecting the political unrest in Hong Kong.
Sales in Europe except Italy slumped by 4.9 percent.
Japan registered strong 10.3 percent sales growth.
By brand, sales of Prada goods slipped 1.5 percent, while Miu Miu recorded a 1.5 percent gain. Church's shoes saw sales climb 7.1 percent, while those of Car shoe fell 16.6 percent.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today prada net profit drops 28 in challenging market conditions Arab Today, arab today prada net profit drops 28 in challenging market conditions

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday