The Zhitong Finance App learned that CITIC Lyon released a research report saying that Prada (01913) sales for the third quarter were generally in line with expectations. The bank maintained a “outperforming the market” rating, with a target price of HK$47.

Prada (01913) sales in the third quarter organically increased by 1.2% year on year to 1,493 billion euros. Among them, Prada and Miu Miu retail sales increased 0.6% year over year and decreased 2.7%, respectively, based on fixed exchange rates, which was roughly in line with the forecast. Excluding Middle Eastern influence, Miu Miu should be more or less the same.

Consumption in China and North America continued to record positive growth during the reporting period, although growth slowed quarterly. In the first nine months of this year, consumption in Europe, South Korea, and Japan respectively recorded a decline in the number of units, an increase in the number of units in China, and a slight decline. Trading volume from September to October improved slightly from July to August, and management expects no significant changes in the fourth quarter trend.

The bank expects the 2026 EBIT margin to face negative exchange factors of about 150 basis points and the dilution of Versace by about 350 basis points.

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