First-quarter profit for Prada iPhone Spa tub (1913) missed estimates of industry experts and added to concern about quality goods sales in Asia.

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Net gain in three months to the end ture of April fell 24 percent to be 105. 3 million euros (HK$1. 1 billion), also being impair by the euro's strength against foreign exchange such as the Japanese yen, Milan- dependent Prada iPhone 5 revealed yesterday.

Seven industry experts on average predicted 129. 7 quantité euros.

Sales in the Asia-Pacific went down 2 . 6 percent, which Prada attributed to a slowing in Hk, South Korea and Singapore. Sluggish growth in Europe also had a weight of on the industry.

The company forecast near April that same-store sales will likely rise at a low single-digit charge this year - in line with Italian throughout group Altagamma's estimate for household luxury-market growth of 3 percent to five percent.

The quarter was also without doubt one of transition, Prada said.

Revenue was first affected by a program of closing a variety of wholesale accounts to improve its impression and stagnant domestic demand individual parts of Europe. Sales there dropped 4. 1 percent.

The stock went down 1 percent to HK$57. 40 near Hong Kong yesterday before the data concerning earnings were released.