Prada 1913

Re: Prada 1913

Postby winston » Mon Dec 07, 2015 11:11 am

HSBC Buys Prada

By Shuli Ren

HSBC made a daredevil call, upgrading Prada (1913.Hong Kong) to Buy ahead of the luxury designer’s earnings on December 15.

Many things have gone wrong for Prada. The Milan-based designer brand was opening stores at a time when luxury sales are slowing and its competitors are reining in their expansions.

As a result, while the luxury industry likely saw its earnings margin drop around 3 percentage points from 2012, Prada’s profit margin may have gone from 27% to less than 16% now.

Second, Prada is losing its cool. Prada is no longer among the most prized brands in Chinese consumers’ eyes.

But these issues are well-understood, according to HSBC’s Erwan Rambourg. Trading at only 18.2 times consensus earnings, Prada’s suppressed share price reflects “the tough macro environment.” Historically, Prada traded at 21.4 times.

While “9% below consensus on EBIT for the current year”, HSBC nonetheless has a price target of 32 Hong Kong dollars. Prada is trading at HK$25.80.

Source: Barron's Asia
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Re: Prada 1913

Postby winston » Wed Dec 16, 2015 6:31 am

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Prada bag shrinks as tourists stay away

Global luxury brand Prada (1913) saw net income plunge 37.58 percent in the third quarter from a year earlier as revenue in Asia dropped under the devaluation of the yuan and fewer tourists coming to the SAR.

The operator of luxury brands Prada and Miu Miu reported 46.48 million euro (HK$394.86 million) of net income for the three months ended October 30, down sharply from 74.47 million euro a year back.

Earnings before interest and tax fell 34.56 percent to 80.68 million euro, as against the estimated 110 million by JPMorgan, or the 19 percent drop forecast by HSBC Global Asset Management.

Net revenues fell 5.32 percent from a year back to 758.11 million euro, dragged down by a 17.9 percent plunge in sales in Asia Pacific its biggest market which made up 31.5 percent of total sales.

"The devaluation of the yuan in August and September had a negative impact on the purchases made by the Chinese travelers," the firm said.

For the nine months to October 31, net income fell 26.38 percent to 235.08 million euro, although net revenue rose 1.2 percent to 2.58 billion euro. Prada shares rose 0.19 percent to HK$26.60 yesterday.

Source: The Standard
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Re: Prada 1913

Postby winston » Wed Dec 16, 2015 11:51 pm

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Shares of Prada hit record low in Hong Kong after profit plunge

Source: Reuters

http://www.reuters.com/article/us-prada ... 5Z20151216
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Re: Prada 1913

Postby winston » Mon Apr 11, 2016 10:19 am

<Result Ann>PRADA Annual Net Income Down 26.6% to EUR 331M; Final Div. EUR11 Cents

PRADA (01913.HK) announced the results for the year ended January 31, 2016.

Net revenues were Euro 3.548 billion, recording a decrease of 0.1% compared with the twelve months ended January 31, 2015.

Net income amounted to Euro 331 million, down 26.6% compared the twelve months ended January 31, 2015.

EPS equaled Euro 0.129.

A final dividend of Euro 11 cents per share was declared.


Source: AAStocks Financial News
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Re: Prada 1913

Postby winston » Tue Aug 30, 2016 11:19 am

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PRADA Surges 12.6% on Spiking Volume; Interim EBIT Above UBS Estimate

PRADA (01913.HK)'s interim net income fell nearly 25%, but the EBIT was EUR214 million, nearly 14% higher than UBS's estimate of EUR188 million.

The stock opened lower 1.1% this morning to $21.5, but rose afterwards; it surged over 100-day MA ($24.86) to $25 once, and it last stood at $24.5, surging 12.6% on spiking volume to 2.19 million shares.

PRADA announced the interim net income fell nearly 25% yearly to EUR142 million.

The EPS equaled 0.055 cent euro; the EBIT was EUR214 million, down 27% yearly; the net revenues fell 14.8% yearly to EUR1.554 billion.

Source: AAStocks Financial News
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Re: Prada 1913

Postby winston » Mon Sep 11, 2017 7:28 pm

Prada shares plummet after disappointing first-half performance

Hong Kong-listed luxury giant has been grappling with declining fortunes since 2015. CLSA downgrades to ‘sell’. Shares end the day down nearly 14pc

CLSA called the first half of the Italian maker of luxury handbags and shoes “very disappointing”, adjusting its target price from HK$28.5 to HK$22.

Milan-based Prada has been grappling with declining sales since 2015, when net profit fell by 27 per cent to €330.9 million (US$377 million), to be followed a year later by a 16 per cent fall to €278.3 million.


Source: SCMP

http://www.scmp.com/business/china-busi ... first-half
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Re: Prada 1913

Postby winston » Fri Oct 12, 2018 5:17 am

Prada shares slammed 10.5 per cent lower in Hong Kong, as sell-off hits luxury goods makers

Unconfirmed reports had been circulating for more than a week about a crackdown by authorities on undeclared high-end goods at airports in Beijing and Shanghai.

The mainland accounts for nearly a third of the global luxury market by sales, according to McKinsey & Co.

China’s luxury spending, which totalled 142 billion yuan (US$22 billion) last year, has proven to be under the sway of government policies.


Source: SCMP

https://www.scmp.com/business/markets/a ... its-luxury
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Re: Prada 1913

Postby winston » Mon Mar 15, 2021 11:30 am

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Valuation getting rich.

Prada currently trades at around 45x FY22 PE, versus its 4-year average of 35x and 1 SD above average of 41x.

While we are optimistic on its operational recovery over the medium term, we believe current price has already factored in most of the positives over a 1-year horizon.

HOLD; TP HK$45.96

Source: DBS

https://www.dbs.com.sg/treasures/aics/s ... 913_HK.xml
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Re: Prada 1913

Postby winston » Tue Aug 03, 2021 10:49 am

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PRADA(1913)

Analysis:
For the six months ended 30 June 2021, the retail net sales of Prada (1913) were up by 60% against the first six months of 2020 and up by 8% compared to the same period of 2019, both at constant exchange rates, mainly driven by growth in Asian Pacific.

EBIT was Euro 166 million whereas for the first half of 2020 it was negative by Euro 195.8 million.

The Group`s profitability improved, despite the uncertain environment and the sales momentum is expected to remain strong in the second half of the year. (I do not hold the above stock)

Strategy:
Buy-in Price: $58.00, Target Price: $69.00, Cut Loss Price: $54.00

Source: Phillips
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