Prada SpA1913
▼ NegativeCapitalrelevance
Net profit fell 15% despite revenue growth, with warnings of waning growth and geopolitical headwinds.
Impact on stocks 2
Consumer Discretionary
Prada SpA
Capri Holdings LtdCPRI
Mentioned
Prada reported a 15 percent drop in net profit to 327 million euros in the first half of the year, beating analyst consensus forecasts. Revenue rose 11 percent to 3.0 billion euros, with retail sales at the flagship Prada brand up 3.3 percent in the first quarter and 6.3 percent in the second quarter, while Miu Miu revenue grew 2.5 percent against a tough comparison. The company cited a disrupted macroeconomic environment and warned that growth opportunities are waning, with the Middle East conflict curbing second-quarter growth by one percentage point at Prada and about three points at Miu Miu. Versace, acquired last year, performed in line with expectations as Prada focuses on improving quality and retail execution.
Prada SpANet profit fell 15% despite revenue growth, with warnings of waning growth and geopolitical headwinds.
Capri Holdings Ltd