Pursuits
Prada Confident for Year as Quarterly Profit Beats Estimates
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Prada SpA reported third-quarter profit that beat some analysts’ estimates and said it’s confident of maintaining growth over the year as demand for its luxury shoes and apparel shows no sign of slowing.
Net income rose 75 percent to 93.6 million euros ($125 million) in the three months ended Oct. 31, compared with the year-earlier period, the Milan-based luxury-goods maker said today on its website. The average of two analysts’ estimates compiled by Bloomberg was for profit of 89.9 million euros. Revenue advanced 33 percent to 596.1 million euros.