MILAN Feb 13 Italian fashion group Prada
reported a 10 percent drop in revenues on Monday as
sales fell across all regions, including Japan and its top
market Asia Pacific.
Consolidated revenues in the financial year through January
2017 fell to 3.18 billion euros ($3.4 billion), down from 3.55
billion euros a year before. At constant exchange rates sales
were down 9 percent, in line with a Thomson Reuters estimate of
3.2 billion euros.
The Hong Kong-listed group sold 12 percent less at constant
exchange rates in its biggest market, the Asia Pacific. Sales
fell 13 percent at constant exchange rates in Japan, after five
years of consecutive growth, it said in a statement.
"This past year we implemented a profound phase of business
process rationalization, still underway, and identified
important strategies to secure the Group's future growth," said
chief Executive Patrizio Bertelli in the statement.
($1 = 0.9398 euros)
(Reporting by Giulia Segreti)