MILAN/HONG KONG (NEWS. WICHT. ES) – Italian luxury commodity group Prada iPhone 5 case <1913. HK> warned on Friday the nation's profit margin could fall this winter if weak consumer spending all over Asia persisted, after posting a functional 44 percent drop in fabric profit for the three months ended Apr.
Prada iPhone case, which has scaled back the nation's retail expansion plan in response to heavy-duty trading conditions, said it would more deeply cut its goal for fabric shop openings this year to 24-26 from 30 in a bid in order to shield margins.
The weakness about the euro helped the maker out of Miu Miu handbags achieve a eight. 5 percent rise in first-quarter sales in order to 828 million euros ($929 million). But revenues were down some. 4 percent when stripping out of boost from currencies.
In particular, you fell 17 percent in the Asia-Pacific region, the group's largest stock market, due to weak Chinese consumer blowing as economic growth slows.
"Performance in this area has been affected mainly by way of market conditions in Greater China and tiawan, especially in Hong Kong and Macau, when the decline in Chinese tourist telephone numbers, already seen in the second half of 2014, shows no signs of abating, " Prada said in a statement.
Main Financial Officer Donatello Galli proclaimed an analyst call he supposed a rebound in China in to second half of the year. But if actual trends persisted, previous "indications out of flat margins (in the full-year) could be a bit challenging. "
Imperfectness in the region that in recent years has been the charm sector's growth engine is a problem for other big brands much too. Sales at Gucci's own stores in Asia-Pacific fell 10 percent in to first quarter, the Italian brand's owner Kering said in Apr.
Prada's net income fell to fifty nine million euros or 0. 02 euros per share in February-April. Analysts polled by Starmine included forecast earnings of 0. '04 euros per share.
Shares all over Prada closed up 1 . 13 percent at HK$39. 75 relating to Friday. The shares are log 9. 6 percent so far this winter compared with a 15. 6 per increase in the benchmark Hang Seng index over the same period.
(Reporting by Valentina Za and Clare Baldwin; Additional reporting by Tripti Kalro; Editing by Keith Weir and Mark Potter)
No comments:
Post a Comment