Prada's Hong Kong shares hit 4-week peak on Q3 rev surge

Prada SpA

31/10/2024 02:34

** Hong Kong shares of Prada  1913.HK  jump as much as 8.1%
to HK$59.90, the highest since Oct. 2
    ** Stock set for biggest intraday pct gain since March 8
    ** Italian luxury group's Q3 net rev rises 17.7% y/y, driven
by double-digit retail sales growth in Asia and Europe and the
doubling of sales at the smaller Miu Miu brand
    ** Co says Q3 Asia-Pacific sales up 12% y/y, despite
investors flagging concerns of slowdown in Chinese demand for
luxury goods
    ** Chief Executive Andrea Guerra says, "China is more
complicated today and not necessarily improving in the near
future"
    ** Hong Kong-listed stock up 31.2% YTD

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