A “remarkable performance” at Miu Miu along with strong sales in Asia and Europe helped boost Prada Group revenues in the first half, the company said Thursday.⁠
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Like-for-like retail sales at Miu Miu soared 50 percent year on year, supported by the brand’s high exposure in Asia where Chinese spending is rebounding strongly. Sales at flagship brand Prada grew 18 percent year on year.⁠
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Group net revenues in the first half reached €2.2 billion, up 20 percent year on year, about 2 percent short of analyst estimates. Operating profit improved markedly: earnings before interest and tax hit €491 million, beating estimates by more than 7 percent.⁠
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