Prada 2015 Preliminary Sales Flat, Hampered by China Economy, Strong Dollar
February 17 2016 - 9:06AM
Dow Jones News
By Manuela Mesco
MILAN--Prada said on Wednesday that its preliminary sales for
2015 were flat compared with the previous year at 3.5 billion euros
($3.9 billion), hampered by China's slowing economy and a strong
U.S. dollar.
The Italian fashion company, listed in Hong Kong, said that
sales in the Asia-Pacific region fell 4% compared with the previous
year at current exchange rates and 16% at constant exchange
rates.
Sales in the American market decreased 9% in real terms because
of the significant strengthening of the U.S. dollar which affected
the number of tourists to the region, the company said.
European sales, on the other hand, rose 6% at current exchange
rates, because of a steady stream of tourists.
Write to Manuela Mesco at manuela.mesco@wsj.com
(END) Dow Jones Newswires
February 17, 2016 08:51 ET (13:51 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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