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Italian luxury goods retailer Prada posts 28% fall in profit

  • Retailer Prada’s net profit for 2014 dropped by 28% because of a slump in sales in key markets such as China and Europe.

    The net income of the Italian luxury goods firm was €451 million, down from the previous year’s €628 million. It also failed to reach analysts’ estimates of €476 million.

    In a statement, the company said its results in the Asia-Pacific region were “hit by the negative performances” in Hong Kong and Macau.

    Tagged as: Prada, net profit, sales, China, Italian luxury goods, Asia-Pacific region, Hong Kong, Macau, business news