Sumary of Prada reports strong H1 sales, swings to profit:
- Prada has reported a 60 percent increase in sales at constant exchange rates in the first half of the year in what is the latest sign of the luxury industry’s recovery.
- In the six months to June 30, the Italian fashion house reported revenue of 1.5 billion euros, compared to 938 million euros last year when the company was hit hard by international store closures.
- Prada reported retail revenue of 1.28 billion euros, up 60 percent compared to a year earlier, and up 8 percent compared to two years ago, prior to the impact of the pandemic.
- During the first half of the year, around 17 percent of Prada’s store network was closed on average.