Prada Sees Further Growth as Sales Buck Wider Luxury Slowdown

Prada SpA reported better-than-expected sales for the start of the year, bucking the weakness across the wider luxury industry as growth soared at the Italian fashion group’s Miu Miu brand.

Net revenue for the group rose 13% at constant currencies in the first quarter, the Hong Kong-listed company said Wednesday, just beating analyst estimates. Retail sales at Miu Miu, particularly popular among younger customers, grew 60% from a year earlier.