Prada Profit Stuns in 2013: Up 57% on Asia and Leathergoods Sales

Milan-While many brands top quality cheap dsigner fake handbags free shipping luxury goods are preparing for an apparent lull in sales, Prada continues to buck the trend. Thursday ', the Italian company has reported a better than expected 57% jump in its third quarter profits.

For the quarter ended October 31 Prada posted earnings before interest and tax rose to € 217.6 million (approximately $ 284.5 million) compared to € 138.9 million a year ago. E 'was well ahead of the average analyst estimate' which includes earnings of $ € 184.3 million.
Net sales jumped 33% to € 791.9 million even beating estimates. The Asia-Pacific region led the sales growth for the company, up 21% excluding currency fluctuations.
By category of goods, leather goods recorded the biggest increase, rising to 38%. The company reported that all sectors achieved double-digit growth in sales. By brand, Prada sales increased 29%, excluding currency, and Miu Miu has increased by 9.8%.
The demand for its brands has resulted in a 32% increase in comparable store sales in Europe, supported by international travelers.
For the nine months ended October 31, Prada said net income rose 50% to € 408.6 million (approximately $ 535.3 million). Net sales in the same period increased by 35% to 2.34 billion euro.
Ultra-Affluents Trading Up
Speaking to analysts during a conference call, Donatello Galli, CFO of Prada, said that the company expects its full store sales for the comparable year to increase the percentage of teenagers half.
Patrizio Bertelli, chief executive, said Thursday that the company's growth continues to defy expectations. "Prada has once again demonstrated that it has the required expertise and initiative to generate positive results, even in difficult international economic situation," said Bertelli, who had predicted a growth of 15% in the month of September.
Prada, with brands such as Hermès and Cartier, are seeing a recovery in sales between the haves ultra, who continue to buy more expensive goods, while other luxury brands face deceleration reaches wider sales.
There has also been a shift in demand in China, where affluent consumers are trading up to more exclusive brands at higher prices.
If this trend continues, luxury brands like Prada luxury stand to continue to collect increases, probably more than sales luxurygoods in general.
Luxury goods quality cheap dsigner fake handbags free shipping next year's sales are expected to increase by 5% to 212 billion Euros (about $ 277 billion) compared with an increase of 13% in 2011 and 8% in 2010, according to a report by Bain and Altagamma. 5% to 212 billion euros (about $ 277 billion) Compared to a 13% increase in 2011 and an 8% increase in 2010, According to a report by Bain and Altagamma.