1519 GMT - Prada's first-quarter revenue beat expectations mainly thanks to strong momentum at Miu Miu, but the brand could face stronger competition next year, analysts at Bernstein say in a research note. Strong growth at Miu Miu seems likely to continue as long as other brands remain on the back foot in terms of creativity and fashion content, Bernstein says. "We believe new creativity will likely arrive in end-2025 along with [spring-summer 2026] runway shows; management believes competition will heat up in 12 months time," the analysts say. Meanwhile, weakness at the Italian luxury group's core Prada brand is expected to linger, according to Bernstein. Shares in Hong Kong closed 1.2% lower before the results. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 11:19 ET (15:19 GMT)
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