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