Italy's Prada rises as quarterly sales outshine rivals

Prada SpA

25/04/2024 06:09

** Shares of Italian luxury group Prada  1913.HK  rise 3.8%
to HK$63.40, their highest since April 3, and on course for
third straight session of gain
    ** Stock on track for the biggest one-day pct rise since
March 8
    ** Prada defied a slowdown across the luxury sector in the
first quarter, with sales up 16% at constant exchange rates to
1.19 bln euros ($1.27 bln), slightly above analysts' 1.14 bln
euro consensus, amid demand for its high fashion brand Miu Miu
and continued growth in Asia 
    ** Chief Executive Andrea Guerra said the sales trend in
April was similar to that seen in the first quarter
    ** Hang Seng Commerce & Industry Index  .HSNC  and Hang Seng
Consumption Index  .HSCGSI  both gain 0.1%, while Hang Seng
Index  .HSI  climbs 0.6%
    ** Stock up 40.5% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))