|Bid||54.000 x 0|
|Ask||54.100 x 0|
|Day's range||53.400 - 54.750|
|52-week range||31.500 - 63.650|
|Beta (5Y monthly)||1.35|
|PE ratio (TTM)||34.68|
|Earnings date||27 Jul 2023|
|Forward dividend & yield||0.94 (1.76%)|
|Ex-dividend date||03 May 2023|
|1y target est||67.20|
Oracle (ORCL) Cloud revolutionizes the customer experience at Prada Group by taking it to new heights.
MILAN (Reuters) -Sales at Italian luxury group Prada rose 22% in the first quarter to 1.065 billion euros ($1.17 billion), driven by a rebound in China and sustained growth in Europe. "Over the course of the first quarter China returned to be an engine of growth, driving a solid sales rebound in Asia Pacific," the group's new Chief Executive Andrea Guerra said in a statement on Thursday. Guerra, speaking to analysts on a conference call, said that also April's numbers were good.
Italy's Prada is planning to spend 60 million euros ($66 million) on industrial capital investments this year, a large chunk of which will help double the size of its knitwear factory in Torgiano, in the central region of Umbria, the luxury group's industrial director said on Thursday. Prada, in common with other luxury groups, is investing to enhance its production capacity and strengthen its grip on the supply chain. In order to do so, Prada is also looking at possible small acquisitions of manufacturers.
Prada aims to hire more than 400 people in Italy by the end of the year to strengthen its production capacity and maintain growth, the Italian luxury group said on Thursday. The investment plan, dedicated to the enlargement of its plants in central Italy as well as training and hiring new people, will give the group greater agility and a reduction of the time-to-market, Prada said. Prada, listed on the stock market in Hong Kong, has roughly 5,300 employees in Italy, of whom 3,200 are in manufacturing.
Prada could exceed 4.5 billion euros ($4.8 billion) in revenues this year, passing its medium term target ahead of schedule, the luxury fashion group's leading shareholder Patrizio Bertelli told Reuters on Thursday. "The conditions are there... but we need to be cautious, unpredictable events can always happen" Bertelli said in a phone interview on the revenue target, adding that the year has started well. Prada set the target in November 2021 as part of its medium-term goals for the next 3-5 years.
MILAN (Reuters) -Italy's Prada said on Thursday it expects revenue growth to outpace rivals this year, after sales exceeded analyst expectations in 2022 thanks to a strong performance in Europe. "In 2023, we expect revenue growth to remain solid and above market average," Prada's new Chief Executive Andrea Guerra said in the statement, adding that China had started again to be "an engine of growth". Prada said net sales grew 63% in Europe with a strong performance across the region, sustained by local demand and an upturn in tourism throughout the year.
Italian fashion group Prada said on Friday it appointed former Luxottica chief Andrea Guerra as its new chief executive officer, taking the place of Patrizio Bertelli and Miuccia Prada as planned. The group announced in December that Guerra would take the helm of the group, easing a transition to the next generation of the founding family. Guerra, 57, will get a remuneration of around 151,000 euros per month, including salary, benefits in kind, pension, healthcare, and he will also be entitled to a discretionary bonus and other incentives, Prada said in a statement.
Italian fashion group Prada is hiring former Luxottica chief Andrea Guerra to smooth the transition to the next generation of the family, Lorenzo Bertelli, son of Miuccia Prada and Patrizio Bertelli said on Tuesday. "It is a soft transition path over the years, nothing traumatic, a normal transition at a particularly good moment for the group," Bertelli said on the sidelines of an event in Venice. Prada Group announced in December that Guerra would be recommended as the new CEO at a board meeting to be held on Jan. 26.
Hong Kong-listed Italian fashion group Prada said on Tuesday it has picked former Dior executive Gianfranco D'Attis as chief executive officer for its flagship Prada brand, starting from January 2. "His proven experience in the luxury sector, with a specific focus on retail, will help Prada to increase its growth potential in all geographies," the group said in a statement. The move comes days after the appointment of former Luxottica chief Andrea Guerra as new chief executive officer of the Prada group, to ease a transition at the helm to the next generation of the founding family.
Current CEO Patrizio Bertelli, 76, will be appointed chairman of the luxury company at annual shareholder meeting next spring. Current co-CEO Miuccia Prada, 73, will remain creative director of the Miu Miu and Prada brands - the latter together with Belgian designer Raf Simons - and a board member.
MILAN (Reuters) -Italian fashion group Prada is set to hire former Luxottica chief Andrea Guerra in a top management role to ease a transition at the helm to the next generation of the founding family, a source with knowledge of the matter said. Founded in Milan in 1913 by designer Miuccia Prada's grandfather and his brother as a leather goods shop, Hong Kong-listed Prada has grown into a group with 365 directly operated shops as of end-2021 and yearly revenues of 3.7 billion euros ($3.8 billion), with 40% coming from the Asia Pacific region. After overseeing a successful turnaround since 2017 to reverse a slide in sales, Prada CEO Patrizio Bertelli, 76, said a year ago he planned to hand over the reins of the group he leads with wife Miuccia to their 34-year-old son Lorenzo.
Hong Kong-listed Italian luxury group Prada SpA said on Thursday it had bought a stake in the Tuscan tannery Superior SpA, tightening its grip on its supply chain, but noted it had not decided whether to list in Milan. A dual listing in Europe would help Prada widen its investor base, as some investment funds can only put money in European or U.S. stocks. "No decision has been taken," on a secondary listing in Milan, Chief Executive Patrizio Bertelli said in an interview with Italian daily newspaper Il Corriere della Sera.
The offering would likely take place next year with the company looking to raise funds by selling new shares in Milan, the report said, citing people familiar with the matter. A dual listing in Europe would help the Hong Kong-listed luxury group widen its investor base as some funds can only put money into European or U.S. stocks. Prada's Chairman Paolo Zannoni said last month a secondary listing in Milan is a possibility but not a priority for Prada, adding that no decision had been taken on the issue.
In the world of luxury, one is never enough. Multiple Coach handbags, three Armani suits, a $1,500 pair of calfskin leather Stefano Ricci dress...
A secondary listing in Milan is a possibility, but not a priority for Hong Kong-listed Italian luxury group Prada, its chairman said on Thursday, adding no decision had been taken on the issue. A dual listing in Europe would help Prada to widen its investor base, as some investment funds can only put money in European or U.S. stocks. Another analyst, who asked not to be named, said that when Prada had picked Hong Kong for its $2.1 billion IPO in 2011, the Asian stock exchange was seeking to lure overseas companies with attractive valuations.
Luxury fashion group Prada beat first-half sales and profit forecasts on Thursday and said it could reach its mid-term targets earlier than planned, although that would depend on how the current uncertain economic environment unfolds. However, sales in the Asia Pacific region overall declined by 7% in the period as lockdowns in mainland China from mid-March impacted around 30% of group stores. The key Chinese market improved since store re-openings in June, Prada said.
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Italy's Prada said it had appointed Roberto Massardi as the luxury group's chief business development officer at a time when the fashion group looks to expand its business after the hit on the sector by the coronavirus pandemic. Massardi, who is already in his new role and reports directly to the company's chief executives, will be responsible for assessing new business opportunities, the company said in a statement on Wednesday. He had worked for Prada in the past and was the director general of Stone Island, a brand recently acquired by the Moncler group.
Prada is deep into the metaverse with its second NFT launch. The luxury brand plans to launch 100 NFTs on the Ethereum network this Thursday as part of its Cassius Hirst Timecapsule apparel drop. The Prada x Cassius Hirst drop will feature unisex button-down shirts in black or white.