21 March, 2021 - 30 May, 2021
05 June, 2021 - 09 June, 2021
High Point, North Carolina, U.S.
09 June, 2021 - 10 June, 2021
30 June, 2021 - 01 July, 2021
05 July, 2021 - 08 July, 2021
The Italian luxury fashion label said retail sales were significantly impacted by store closures in the first half of 2020 due to the Covid-19 pandemic.
At constant foreign exchange rates, Prada’s retail sales declined 32% for the first half of the year, while wholesale sales were down 71%. The company said that, on average, 40% of the retail network was closed from February to May, reaching a peak of 70% in April. E-commerce sales are said to have delivered triple-digit sales growth during and after the lockdowns. During the first half net revenue totalled €938 million, down 40%, and selling expenses of closed stores during lockdowns were €112 million. The luxury fashion label recorded a net loss of €180 million.