Prada sees sales growth in second half after strong recovery in H1

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FILE PHOTO: FILE PHOTO: Coronavirus disease (COVID-19) outbreak in Geneva
FILE PHOTO: A man walks past a closed Prada shop after partial lockdown measures were introduced amid the coronavirus disease (COVID-19) outbreak in Geneva, Switzerland, November 16, 2020. REUTERS/Denis Balibouse

July 29, 2021

MILAN (Reuters) – Italian fashion group Prada sees sales rising further in the second half of the year after revenues beat market expectations in the first six months, extending a recovery from the worst of the COVID-19 crisis.

The Milan-based, Hong Kong-listed luxury group said on Thursday total revenues jumped by 66% at constant exchange rates to total 1.5 billion euros ($1.78 billion), a touch under their first half 2019 pre-pandemic levels, but above 1.43 billion euros sales expected by analysts according to a consensus by Refinitiv.

“The sales momentum will stay strong in the second half of the year”, Chief Executive Officer Patrizio Bertelli said, adding the group will hold a capital markets day in the Autumn.

($1 = 0.8423 euros)

(Reporting by Claudia Cristoferi, editing by Silvia Aloisi)