Prada 2015 Preliminary Sales Flat, Hampered by China Economy, Strong Dollar

   By Manuela Mesco

MILAN--Prada said on Wednesday that its preliminary sales for 2015 were flat compared with the previous year at 3.5 billion euros ($3.9 billion), hampered by China's slowing economy and a strong U.S. dollar.

The Italian fashion company, listed in Hong Kong, said that sales in the Asia-Pacific region fell 4% compared with the previous year at current exchange rates and 16% at constant exchange rates.

Sales in the American market decreased 9% in real terms because of the significant strengthening of the U.S. dollar which affected the number of tourists to the region, the company said.

European sales, on the other hand, rose 6% at current exchange rates, because of a steady stream of tourists.

Write to Manuela Mesco at manuela.mesco@wsj.com

(END) Dow Jones Newswires

February 17, 2016 08:51 ET (13:51 GMT)

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