Prada’s mid-term targets look closer after strong first half

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Reuters UK

MILAN (Reuters) – Luxury fashion group Prada beat first-half sales and profit forecasts on Thursday and said it could reach its mid-term targets earlier than planned, although that would depend on how the current uncertain economic environment unfolds. In the six month to June sales were boosted by Europe, the Americas, and Japan and South Korea in Asia, the Italian company said. However, sales in the Asia Pacific region overall declined by 7% in the period as lockdowns in mainland China from mid-March impacted around 30% of group stores. The key Chinese market showed “an improved trend since …

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