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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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Global luxury goods sales set for largest ever fall in Bain forecast

11/18/2020 | 11:49am EST
FILE PHOTO: Coronavirus disease (COVID-19) outbreak in Geneva

MILAN (Reuters) - Sales of luxury goods worldwide are set to fall by 23% to 217 billion euros (194.06 billion pounds) this year, their largest ever drop and first since 2009, due to the fallout from the coronavirus pandemic, consultancy Bain said on Wednesday.

The expected decline, despite a strong sales recovery in China, is at the lower end of a 20% to 35% range which Bain's closely followed industry forecast had predicted in May.

That is due to a bigger than expected rebound during the summer, when lockdown measures were lifted or eased across the world and stores selling high-end handbags, clothes, jewellery and watches were reopened.

However, a resurgence of the pandemic in Europe and the United States since October has led to new restrictions and shop closures while uncertainty linked to the U.S. elections also weighed on consumer sentiment.

The only bright spot is China, where sales have surged since it began to emerge from the health crisis in the spring. Sales in mainland China are seen growing by 45% at current exchange rates to 44 billion euros this year.

"We have a two-speed world, with Europe and the U.S. strongly hit by the second wave and by social and political uncertainty, while China is relentlessly accelerating day after day," Federica Levato, a partner at Bain, said.

Fourth-quarter sales are expected to drop by 10%, although the decline could be bigger depending on how much the new shutdowns hit the crucial Christmas season.

Revenues for the likes of Louis Vuitton owner LVMH, Hermes and Prada should partly recover in 2021, although Bain says it will take until the end of 2022 or even 2023 to return to 2019 levels.

The coronavirus crisis has accelerated three trends, Bain said, with purchases online almost doubling from 12% in 2019 to 23% in 2020, and e-commerce set to become the leading channel for luxury purchases by 2025.

International travel curbs have led to people buying more in their home countries, while shoppers born from 1981 onwards now account for almost 60% of total purchases.

(Reporting by Silvia Aloisi and Claudia Cristoferi; Editing by Alexander Smith)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BURBERRY GROUP PLC 0.55% 1733 Delayed Quote.-3.16%
CHRISTIAN DIOR SE -1.26% 438.6 Real-time Quote.-3.52%
HERMÈS INTERNATIONAL -1.82% 854.2 Real-time Quote.-2.89%
KERING SA -0.75% 541.6 Real-time Quote.-8.88%
LVMH MOËT HENNESSY - LOUIS VUITTON SE -0.32% 506.4 Real-time Quote.-0.88%
PRADA S.P.A. 1.97% 49.25 End-of-day quote.-3.81%
SALVATORE FERRAGAMO S.P.A. 4.98% 16.64 Delayed Quote.4.92%
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Financials
Sales 2020 2 496 M 3 018 M 3 018 M
Net income 2020 -43,3 M -52,4 M -52,4 M
Net Debt 2020 668 M 808 M 808 M
P/E ratio 2020 -333x
Yield 2020 0,11%
Capitalization 13 311 M 16 108 M 16 092 M
EV / Sales 2020 5,60x
EV / Sales 2021 4,47x
Nbr of Employees 13 669
Free-Float 20,0%
Chart PRADA S.P.A.
Duration : Period :
Prada S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PRADA S.P.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 4,25 €
Last Close Price 5,20 €
Spread / Highest target 11,5%
Spread / Average Target -18,3%
Spread / Lowest Target -50,7%
EPS Revisions
Managers and Directors
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
Sector and Competitors
1st jan.Capitalization (M$)
PRADA S.P.A.-3.81%16 108
INDUSTRIA DE DISEÑO TEXTIL, S.A.-4.03%94 940
FAST RETAILING CO., LTD.1.65%90 261
KERING SA-8.19%82 890
ROSS STORES, INC.-9.08%39 803
HENNES & MAURITZ AB3.46%35 508