Prada up in HK on sales recovery forecast

Paris

PRADA SpA on Monday jumped in Hong Kong trading amid expectations that same-store sales growth will speed up this year, after it reported a slight fall in full-year sales as fewer Chinese splurged on US$2,950 handbags and other luxury products.

Prada shares climbed 3.9 per cent to HK$44.25, the highest close in two weeks. They rose as much as 6 per cent earlier on Monday. The benchmark Hang Seng Index was little changed.