Prada Hurt by Euro’s Strength as Profit Misses Estimates

Prada SpA, the Italian owner of the Miu Miu and Church’s luxury brands, said the euro’s strength will weigh more heavily on full-year earnings than some analysts anticipate after first-half profit missed estimates.

The currency’s appreciation against the yen and the dollar “may be possibly not fully considered in some of the forecasts that we have seen coming from the market at the moment,” Chief Financial Officer Donatello Galli said on a conference call.