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Prada’s stocks down – whom to blame?



Europe is still recovering after the notorious economic crisis in 2008, but it did no prevent a fashion giant Prada from performing an annual turnover of 777.7 million euro, even though, it is 0.6 % less than the same time previous year.

The luxury fashion brand blames low exchange rates and third-party sales numbers. The wholesale decline of 24.7% was caused by Prada’s eagerness to re-think its strategy towards selling via their own stores. The company looks forward to the end of rationalization by the next year. 

Prada’s sales index has grown 2.8 % converting into 697.8 million euro and with proportional exchange rates it would have gone up by 7.7 %. The constant instability in exchange rates has affected company’s profit, allowing it to decline down to 156.3 million euro (20.1 % of total turnover). Net profit comprised 105.3 million euro, 13.6 % of total sales that clearly demonstrates the evidence of shrinking sales numbers resulting in poorer performance compared to last year’s results. The public markets did not go silent regrading news from Prada, lowering Prada’s stock by 6.9%. 



More about shopping malls in Italy



TODAY, Italy:
The subsidiary of the leading Arabian group starts projects in Milan and Turin.
YESTERDAY, United Kingdom:
Croydon Council approves plans to build £1.4 billion shopping center.
Nov 16, 2017, France:
Les Ateliers Gaîté projects to be based in central Paris and La Part-Dieu in Lyon, France.
Nov 15, 2017, Serbia:
Ada Mall will be the first shopping mall of the newest generation in Belgrade, Serbia.
Nov 14, 2017, Russia:
The FORT Group is acquiring the entire retail portfolio in Moscow from IMMOFINANZ in a share deal.
Nov 13, 2017, United Kingdom:
Haribo has chosen London Designer Outlet (LDO) for its first outlet store in the UK.
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