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Prada fiscal Q2 profit falls 8.0% YOY

Prada SpA said its normalized net income for the fiscal second quarter ended July 31 came to 5 euro cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS fell 8.0% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €120.7 million, a decline of 8.0% from €131.2 million in the year-earlier period.

The normalized profit margin dropped to 12.1% from 13.5% in the year-earlier period.

Total revenue grew on an annual basis to €996.2 million from €973.6 million, and total operating expenses climbed from the prior-year period to €793.7 million from €756.9 million.

Reported net income declined 6.9% year over year to €129.8 million, or 5 cents per share, from €139.5 million, or 5 cents per share.