Prada (1913) reported earnings for the first three quarters to the end of September, rising 16.8% year on year to $3.344 billion (euros at fixed exchange rates).

During the period, most of the markets achieved double-digit growth, with sales in the Asia-Pacific region increasing by 21.2% year on year to 1.043 billion yuan, especially in Hong Kong and Macao. Sales in Europe increased 16.8% to $941 million; in Japan increased 46.7% to $334 million and in the Middle East also increased 11.6% to $125 million. The Americas recorded losses, with sales falling 1.3 percent to $536 million.

By brand, Prada sales increased 13.1% year on year to $2.5 billion; Miu Miu sales increased 49.5% to $446 million and Church's sales fell 18.8% to $19.23 million.

UBS reported that the current consumer demand for luxury goods is slowing, many brands failed to meet market expectations, and some double-digit decline, achieving continued improvement after the epidemic, sales increased by 8% in the third quarter, down 11% against the industry average, the bank expects its market share will continue to increase. In addition, the company's second-half profit margin target was maintained at 22%, in line with the first half.

The bank slightly upgraded its Prada 2023-25 earnings test, with a cautious fourth-quarter outlook given the current slowdown in market demand."Buy" rating with a target price of HK $63.

Prada closed down 0.2% at HK $45.05.