Dec. 10, 2014 (TMR Blog)- Prada, the Italian luxury brand, has reported net profits to the tune of 319.3 million euros for the first three quarters of 2014, ending October 31. The company said that for this period, its consolidated net revenues amounted to 2.55 billion euros , a drop of 0.9% if calculated at the current exchange rates, and an increase of 0.5% if calculated at the constant rate of exchange. The company also said that its EBITDA was valued at 681.7 million euros, whereas the EBIT amounted to 496.4 million euros during this period.
The CEO of Prada Spa, Patrizio Bertelli, said that the year 2014 was proving more challenging for the company than what was previously thought. Over and above the complicated economic environment prevailing at the international level, numerous other changes and adjustments are being observed in the global luxury goods market. He said that the extent of these adjustments and changes was not yet clear. However, he expressed confidence that the company’s growth prospects in the medium term remained optimistic even as the company maintained a focus on the increasingly complex market conditions.
Bertelli added that the company remained confident of its decision to prioritize medium-term development of the group. This would be done via investments geared toward stylistic and qualitative excellence, the senior official said.
Prada has also been purportedly working on improving the efficiency of its business structures and on bringing improvements to the operating performance of its stores across global locations. All of these initiatives are expected to bring in higher levels of profitability, the company’s CEO said.
The CEO of Prada Spa, Patrizio Bertelli, said that the year 2014 was proving more challenging for the company than what was previously thought. Over and above the complicated economic environment prevailing at the international level, numerous other changes and adjustments are being observed in the global luxury goods market. He said that the extent of these adjustments and changes was not yet clear. However, he expressed confidence that the company’s growth prospects in the medium term remained optimistic even as the company maintained a focus on the increasingly complex market conditions.
Bertelli added that the company remained confident of its decision to prioritize medium-term development of the group. This would be done via investments geared toward stylistic and qualitative excellence, the senior official said.
Prada has also been purportedly working on improving the efficiency of its business structures and on bringing improvements to the operating performance of its stores across global locations. All of these initiatives are expected to bring in higher levels of profitability, the company’s CEO said.
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