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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Prada S.p.A.    1913   IT0003874101

PRADA S.P.A.

(1913)
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Prada S p A : Italy's Prada posts slight increase in first half sales

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08/01/2019 | 09:32am EDT
FILE PHOTO: People walk past a Prada luxury fashion boutique near Wangfujing Street

MILAN (Reuters) - Revenue at Italian fashion group Prada rose 2% in the first half of the year, in line with market expectations, as improving full-price sales and a solid growth in its wholesale channel offset the impact of a move to cut back on markdowns.

The Milan-based company said this year it would stop offering end-of-season promotions in its stores and be more selective with wholesalers to support full-price sales to lift margins and protect its brands.

Prada sales had risen in 2018 for the first time in four years helped by a new strategy aimed at rejuvenating the brand which focused on renovating shops, new products and digital sales.

In the first half of 2019, revenue totalled 1.57 billion euros (£1.43 billion), which was flat when stripping out the impact of currency swings.

The retail network declined 3% affected by the phase-out of markdown sales, while the wholesale channel rose 14% driven by online sales, with the rationalisation not having any impact yet on that part of the business.

Prada warned however it will affect results in the short-term.

Operating profit, or earnings before interest and taxes (EBIT), decreased 13% to 150 million euros, equivalent to 9.6% of sales. The group's operating profit margin has been declining every year since 2012 when it stood at 27%.

Analysts had expected revenues of 1.57 billion euros and an operating profit of 152 million euros, according to Refinitiv data.

Prada shares closed down 0.8% in Hong Kong before the results' publication.

(Reporting by Claudia Cristoferi; Editing by Keith Weir)

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Financials (EUR)
Sales 2019 3 212 M
EBIT 2019 312 M
Net income 2019 256 M
Debt 2019 227 M
Yield 2019 2,77%
P/E ratio 2019 27,0x
P/E ratio 2020 66,0x
EV / Sales2019 2,19x
EV / Sales2020 2,76x
Capitalization 6 815 M
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Technical analysis trends PRADA S.P.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 2,96  €
Last Close Price 2,66  €
Spread / Highest target 44,7%
Spread / Average Target 11,3%
Spread / Lowest Target -36,3%
EPS Revisions
Managers
NameTitle
Patrizio Bertelli Co-Chief Executive Officer & Executive Director
Miuccia Prada Bianchi Co-Chief Executive Officer & Executive Director
Carlo Mazzi Chairman
David Terracina Chairman-Supervisory Board
Alessandra Cozzani Chief Financial Officer & Executive Director
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