Prada first-quarter revenue rises 3%, driven by sales in Americas region
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Prada's first-quarter revenue rose 3% at constant exchange rates, totaling 1.3 billion euros, slightly below analysts' expectations. The growth was driven by double-digit sales in the Americas, which offset declines in Europe and the Middle East. Versace contributed 143 million euros to revenues, while Miu Miu's sales increased by 2.4%. Retail sales grew 15% in the Americas and 5% in Asia-Pacific, but Europe saw a 6% decline and the Middle East dropped 22% due to conflict. CEO Andrea Guerra emphasized the group's aim for above-market growth despite challenges.
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