Prada CFO says current FY market forecasts do not reflect FX

Reuters

PARIS (Reuters) - Prada (HKG:1913) on Tuesday said current full-year revenue forecasts estimated by the market did not take fully into account foreign currency impacts, namely the weakness of the dollar and the yen against the euro.

"These foreign exchange movements might not be fully considered by forecasts of the market and will weigh on the top line," Prada Chief Financial Officer Donatello Galli said in a conference call about the luxury company's first-half results.

Galli added that summer trading was good and that in August, sales growth was actually better in like-for-like terms than during the second quarter. But he noted that demand in the first days of September proved softer in some regions such as Europe.

(Reporting by Astrid Wendlandt; Editing by Christian Plumb)

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