Milan, Italy: Prada said Wednesday that overall net income fell by 15 percent despite higher revenue, in what the luxury fashion company said was a "disrupted" macroeconomic environment.
The Milan-based fashion house is still integrating its newest brand, Versace, amid a general slump in the luxury sector due to geopolitical tensions and other challenges.
But results were above FactSet analysts' consensus estimates, and the company called the results "solid".
The owner of the Prada, Miu Miu and Versace brands said that net income across all its labels fell to 327 million euros in the first half of 2026, versus 386 million a year earlier.
Margins fell to 10.7 percent from 14.1 percent in the period.
"While the environment remains disrupted, we are confident in the strength of our brands and their long-term potential," said Chief Executive Andrea Guerra in a statement.
Net revenues, net of currency fluctuations, rose 16 percent in the half, with the company's retail channel delivering 12 percent growth.
At Prada, the company's flagship brand, retail sales rose by 3.3 percent in the first quarter and 6.3 percent in the second quarter, helped by improvements in the Americas, Japan and the Asia-Pacific region.
Revenue at Miu Miu, a sales driver in recent years for the company, rose by 2.5 percent in the half -- against the difficult comparison of a 49 percent rise in the first half of 2025.
Versace, which Prada acquired last year, was "in line with expectations", the company said, adding that focus for the brand was on improving quality and retail execution
