The Zhitong Finance App learned that Citi released a research report stating that it maintained the Prada (01913) “neutral” rating and lowered the target price from HK$41.5 to HK$39.9. The bank lowered the Group's net sales forecast for each year 2026 to 2028 by about 1%, reflecting a more cautious assumption of Prada and Miu Miu's fixed exchange rate growth in the second half of the year due to weak passenger flow in China and other parts of Asia, continued disruption in the Middle East, and a high comparison base between the US and South Korea. As a result, the bank lowered its 2026-2028 EBIT and earnings per share forecast by about 3%.

The bank expects the third quarter results to be announced on October 22, with net revenue of 1.48 billion euros for the period, including flat organic growth in the fixed exchange rate, and Versace's combined contribution of about 9 percentage points. According to the channel's fixed exchange rate, retail sales remained flat, wholesale fell 1%, and franchise revenue rose 8%; by region, retail sales fell 4%, North America rose 8%, Asia Pacific fell 1%, Japan rose 3%, and the Middle East fell 20%; in terms of brands, Prada remained flat, Miu Miu fell 3%, and Versace fell 9%.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.