MILAN, Italy — Prada Skin clinic reported a 44 percent sweat in third-quarter profit as weakened spending by wealthy Chinese individuals weighed on the luxury-goods maker's sales and profits growth.
Net income fell to seventy four. 5 million euros ($92 million) in the three months through October caused from 132. 6 million euros every twelve months earlier, the Milan-based seller pointing to brands including miu miu iphone 5 furthermore Church's said in a statement perfect now. Sales fell 5. 6 % to 801 million euros.
Less new handbags in the 1, 000-euro to 1, 500-euro price range is thinking it over on Prada, according to Mario Ortelli, an analyst at Sanford Vitamins. Bernstein.
At the same time, pro-democracy protests through Hong Kong have disrupted business through greater China, where the company develops into about a quarter of its sales. Burberry scarves Group Plc said last month which it sees a tougher market due to luxury goods after currency variations and weak Asian demand caused a drop in earnings.
Prada has said profit margins will remain under pressure from inside the second half, while annual item sales will be little changed.
By John Roberts, with assistance from Kana Nishizawa; editors: Celeste Perri, Robin Ganguly, Thomas Mulier.
Week in Review | Victoria's Secret's Missed…
Apparel Superstore Delia's to File for Bankruptcy
Prada 3Q Profit Drops 44%, Longer than Analysts Expected
Power Moves | Sarah Rutson to Net-a-Porter, Julie…
More information about miu miu iPhone case. It is a helpful resource for your refer
No comments:
Post a Comment