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Prada profit misses consensus by 29.6% in fiscal Q1

Prada SpA said its normalized net income for the fiscal first quarter ended April 30 amounted to 4 euro cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS declined 21.6% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €90.1 million, a decline of 21.6% from €114.9 million in the year-earlier period.

The normalized profit margin declined to 11.6% from 14.7% in the year-earlier period.

Total revenue came to €777.7 million, compared with €782.3 million in the prior-year period, and total operating expenses climbed 5.9% from the prior-year period to €621.5 million from €586.9 million.

Reported net income fell 23.8% on an annual basis to €105.3 million, or 4 cents per share, from €138.2 million, or 5 cents per share.