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Prada reported a deceleration in sales growth as luxury companies struggle to spark renewed demand for high-end goods.
Prada weathers luxury slowdown as Q3 sales edge up, Miu Miu slows down
Shares of Prada S.p.A. (OTCMKTS:PRDSF - Get Free Report) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.91 and traded as low as $4.50. Prada shares last traded at $4.54, with a volume of 1,000 shares changing hands. Prada Trading Down 3.2% The firm has
Trends that made luxury companies like LVMH such a brilliant investment over the past 20 years are fading.
The fashion house is working to close the gap with rivals in courting top spenders as it navigates a difficult climate for luxury retail.
Italian luxury group Prada is focused on reviving the Versace business, which it acquired last year, and it is not considering a bid for rival Armani, Chief Executive Andrea Guerra told Reuters.
Italian luxury group Prada has renovated and expanded its historic premises in the heart of Milan to strengthen ties with its wealthiest clients and attract new customers, Chief Executive Andrea Guerra told Reuters.
Prada and Miu Miu remain resilient, with the core business continuing to grow despite a weak luxury backdrop. Versace is currently dilutive, but the turnaround creates meaningful long-term optionality rather than a permanent earnings drag. Organic margins remain healthy, while the Group continues to grow faster than the broader luxury market.
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