This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEH040XT_L.jpg
The Milanese luxury brand said it had decided to provide the unscheduled business update, before disclosing full-year results in March, due to the extraordinary situation and uncertainty created by the COVID-19 pandemic.
The fallout from the COVID-19 crisis triggered a 40% decline in Prada’s like-for-like revenues in the first half of the year leading to a 196 million euros operating loss ($240.5 million).
Prada said the second half of 2020, “despite being impacted by ongoing store closures averaging 9% of the network, saw a progressive recovery in sales, culminating for the retail sales in a full recovery to 2019 levels in the month of December.”
($1 = 0.8150 euros)
