MILAN — Prada SpA trumpeted a “better-than-expected” 2009 in a statement issued Monday as a teaser to the release of the company’s financial results for the year ended Jan. 31.
Prada’s results are expected to be released sometime between March and April. The Italian luxury goods house said it was “entirely satisfied” with its performance last year and that “preliminary figures indicate that the operating profit will be better” than in 2008.
In that year, Prada reported an operating profit of 282 million euros, or $414.5 million at average exchange rates.
In 2009, operating profits were also “better than the forecasts made when the budget was finalized as a result of the excellent performance of the retail channel, which recorded an increase in sales of more than 14 percent,” the company said.
Prada also noted this “positive economic trend” allowed the company to self-finance its development with investments in 2009 of more than 120 million euros, or $166.8 million, mainly directed at the opening of 33 stores in Asia and Europe.