HONG KONG Feb 12 Italian fashion house Prada
SpA said on Wednesday that sales grew just 9 percent
in the year ended Jan. 31, hurt by economic weakness in Europe
and a stronger euro.
Prada, which makes luxury handbags, shoes, eye glasses and
Miu Miu-branded dresses, published a preliminary sales figure of
3.59 billion euros ($4.9 billion) for 2013. Analysts on average
were expecting 3.67 billion euros, according to Thomson Reuters
Sales in Europe grew just 5 percent. Sales in Asia and the
Americas grew by 11 percent each, and sales in Japan grew by 24
Greater China, which has been a major focus for investors as
a crack down on corruption and conspicuous consumption has hurt
sales for many luxury goods sellers, contributed 826 million
euros to Prada's fiscal 2013 revenue.
The Hong Kong-listed Prada Group opened 79 new stores last
year, bringing the number of directly operated stores to 540 as
of the end of January.
The figures in Wednesday's sales report are preliminary.
Prada is tentatively scheduled to give a full, audited earnings
report on April 2.
Prada shares closed down 1 percent at $63.65 on the Hong
Kong Stock Exchange. They are down 8 percent so far this year
compared with a 4.4 percent year-to-date decline in the
benchmark Hang Seng index.
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($1 = 0.7312 euros)
(Reporting by Clare Baldwin; Editing by Kim Coghill)