Prada Recovery, Cost-Cutting Efforts in Focus as Bears Vanish
- Italian luxury-goods maker reports annual earnings on April 12
- Short interest stays below 3% of free float since January 26
People sit next to sculptures outside a Prada SpA luxury fashion store on Orchard Road in Singapore, on Sunday, Dec. 16, 2016. Shopping has overtaken gambling as the biggest earner in Singapore's tourism industry for the first time since 2012, surging 44 percent in the six months through June from a year ago, official data show.
Photographer: Sanjit Das/BloombergInvestors will be looking for updates from Prada SpA on its recovery momentum when it reports annual earnings this week, as a drop in bearish bets removes the potential for a share-price boost resulting from a short squeeze.
The Italian luxury-goods maker, which said growth resumed in January after reporting a nine percent drop in annual sales at constant exchange rates, has been battling weak Chinese demand and a terrorism-inspired slowdown in European tourism. It’s hoping to boost e-commerce sales by increasing the number of categories it offers online, particularly shoes, and expanding its social media activities.