Prada 1913

[winston]

not vested

DJ MARKET TALK: Prada +7.4%, Stellar 1Q; Barclays Raises Target

1040 [Dow Jones] Prada (1913.HK) rallies 7.4% to HK$48.80 after it posted net profit for 1Q ended April more than doubled to EUR121.7 million, although it painted a cautious picture of the outlook for 2012 that underlined the "uncertain international economic environment."

Barclays raises Prada's target to HK$65.00 from HK$60.00, reflecting increases in its earnings forecasts 8%-9% over FY13/14.

"Prada delivered a set of goods results despite uncertain macro conditions, demonstrating brand strength and the resilience of handbags."

The house notes that Europe, in particular, delivered the fastest net sales growth of 56.8% on-year, thanks to tourism and more store openings.

Source: Dow Jones Newswire

[winston]

not vested

DJ Prada Warns Over Increasing Risks After Net Profit Doubles By Nadya Masidlover
Jun 7, 2012

Luxury goods maker Prada SpA (1913.HK) said Thursday it has confidence in the outlook for 2012 but underlined "the increasing risks deriving from the uncertain international economic environment," as its net profit for first quarter more than doubled from the same period last year.

The Italian fashion house, which listed in Hong Kong last June, said that despite its "excellent results achieved in the first quarter," the company must "be ready to take any necessary actions to safeguard [its] assets and preserve [its] long-term growth strategy."

Over the first three months of the year, net profit rose to 121.7 million euros ($152.14 million) from EUR57.7 million a year earlier.

Revenue increased by 48% on the year to EUR686.7 million, with double digit sales growth in all of the company's markets.

Prada reported net operating cash flow of EUR180.8 million for the period and said that in 2012 the company will focus on reinforcing its cash-flow generation and financial flexibility.


Source: Dow Jones Newswire

[winston]

not vested

PRADA (01913)'s interim income up 36.5% YoY

PRADA (01913) announced the preliminary sales data for the six months ended 31 July 2012. Income climbed 36.5% year-on-year to EUR1.5478 billion.

Value of retail sales amounted to EUR1.2294 billion while value of wholesale lifted 4.8% year-on-year.

Sales in Italy climbed 21.7% while sales in Asia Pacific leaped 45%.

During the period in concern, 28 new shops were opened.

Interim results will be announced on 24 September.

Source: AAStocks Financial News

[winston]

not vested

DJ MARKET TALK: Prada +5.1%; Growth Story Remains Intact - CIMB

1138 [Dow Jones] Prada (1913.HK) rallies 5.1% to HK$56.40 after saying its 1H sales jumped 37% on year to EUR1.55 billion, boosted by strong demand from the Asia-Pacific region.

CIMB advises investors to "stay invested as the company's growth story continues to play out;" it says Prada's 2Q sales amounted to 27% of its and consensus' full-year estimates as Prada maintained its robust business momentum.

Factoring in the strong performance, CIMB nudges up its EPS estimates and target price, from HK$57.00 to HK$59.00, which is still pegged to a CY13 P/E of 21X, the historical P/E for global soft luxury peers; it keeps the stock at Outperform.

"The results should give investors much comfort, especially after the disappointing results reported by some luxury peers such as Burberry and Coach.

While global luxury consumption has slowed due to macroeconomic challenges, Prada continues to deliver because it remains underpenetrated at the retail level."

Source: Dow Jones Newswire

[winston]

not vested

Prada net jumps 60 percent as Asia keeps buying

Prada (1913) posted a nearly 60 percent jump in first-half net profit, as Asian spenders continue to shield the Italian fashion house from the slower growth hurting rival companies.

The Milan-based retailer, popular for its colorful Miu Miu dresses and leather handbags, said net profit rose 59.5 percent to 286.4 million euros (HK$2.87 billion).

Prada's own brand and Miu Miu were the main drivers of growth with sales revenue up 40.4 percent and 23.7 percent, respectively.

The Asia-Pacific market showed the highest growth rate, accounting for more than a third of total net revenues, as Greater China sales rose 50.2 percent to 334.6 million euros.

Analysts said Prada's leather goods sales tend to be more resilient than clothing during an economic downturn and expect it to outpace competitors due to its strong positioning in handbags and smaller store network.

Prada said while market conditions would remain challenging for the short term with more general volatility, the company remains confident about the near future.

Prada has continued to expand its retail network, opening 28 new stores while closing two to take the total number of directly operated stores to 414 as at July 30.

Shares have gained 71 percent this year versus a 12 percent decline in the Hang Seng Index.


Source: REUTERS

[winston]

not vested

PRADA (01913.HK) loses one-third of management staff since listing

British Financial Times reported the Italian luxury goods maker PRADA (01913.HK) has lost one-third of the management staff since the listing last year, reflecting the continued high turnover rate.

Source: AAStocks Financial News

[winston]

not vested

<Research Report>PRADA (01913.HK) reiterated OW with TP lifted to $80 by HSBC

PRADA (01913.HK)'s core brand is gradually replacing large brands like LV and Gucci, said HSBC, who noted the rapid increase of PRADA's market share in the past two to three years.

HSBC lifted its 2012-13 forecasts for the retailer's organic growth to 27% and 15% respectively from 24% and 14%.

PRADA was reiterated Overweight with target lifted to $80 from $73 by the bank, who pointed out however the price-to-earnings ratio of the retailer is still high at present.


Source: AAStocks Financial News

[winston]

not vested

PRADA (01913.HK) initiated at Outperform with target $78 by CS

Credit Suisse said in a report that PRADA (01913.HK) is expected to benefit from the 8% annual growth in global wealth, with the low penetration rate of luxury markets in emerging markets, which contribute 40% of the Group sales.

The CAGR of the Company and its related Miu Miu brand from 2011 to 2015 may reach 27%, higher than its peers.

The Bank initiated an Outperform rating with target price of $78.


Source: AAStocks Financial News

[winston]

PRADA (01913.HK) gains 6.7% on target held at $78 by CS

PRADA (01913.HK) posted a nearly 50% year-on-year increase in earnings for the first three quarters to EUR409 million.

After the results announcement, PRADA was reiterated Outperform by Credit Suisse, who maintained the target price at $78.

The stock advanced 6.7% to $68.85 and once hit record high, with trading volume being 2.35 million shares.


Source: AAStocks Financial News

[winston]

not vested

PRADA (01913.HK)'s net revenues up 29% yoy in last fiscal yr

PRADA (01913.HK) announced the Group's net revenues for the financial year ended January 31, 2013, amounted to Euro 3,297 million, a 29% increase as compared to the financial year 2011.

At constant exchange rates, the Group enjoyed sales growth of 23%.


Source: AAStocks Financial News