Prada Sales Update Disappoints; No Change to Fair Value Estimate
Prada’s preliminary 2016 year-end sales release showed reported revenue down 10% or 9% at constant exchange rates compared with the prior year. The sales figure was below our internal model estimate that called for a 5% decline. Despite the disappointing sales results, we're maintaining our our HKD 32 fair value estimate, as the company saw trends reversal in the last months of 2016 that supports our assumption that the company's return to growth will be coming in 2017.All geographical segments...
PRADA is engaged the luxury goods sector where it operates with the Prada, Miu Miu, Church's and Car Shoe brands in the design, production and distribution of luxury handbags, leather goods, footwear, apparel and accessories. Co. also operates, under licensing agreements, in the eyewear, fragrances and mobile telephone sectors. Co.'s products are sold in 70 countries worldwide through a network that included 540 Directly Operated Stores (DOS), and a select network of luxury department stores, independent retailers and franchise stores.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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