Prada 2009 Core Profit Rose 2.8 Percent

Prada has announced that its core profit rose 2.8 percent to 290 million euros (US$389.8 million) in 2009; it was boosted by a rise in more profitable retail sales, even as its wholesale business declined. Wholesale turnover to U.S. department stores fell, but Prada said also that its strategy of developing a direct distribution channel had paid off, with retail sales rising 14 percent in 2009.