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Prada shares set to fall after 2016 profit lags forecast
April 13, 2017 / 1:30 AM / 8 months ago

Prada shares set to fall after 2016 profit lags forecast

HONG KONG (Reuters) - Shares of luxury fashion group Prada SpA (1913.HK) were set to fall 2 percent on Thursday after it reported a 15.9 percent fall in annual profit, lagging estimates. [nL3N1HE3FC]

FILE PHOTO: A Prada product is seen inside a display window at the financial Central district of Hong Kong, China in this November 10, 2015 file photo. REUTERS/Bobby Yip/File Photo

Prada blamed the lacklustre earnings on soft global luxury spending. Its shares, which have risen more than 30 percent so far this year were set to fall to 2 perecent to HK$34.00

Reporting by Anne Marie Roantree; Editing by Joseph Radford

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