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Updated Wednesday, February 10, 2010 11:41 am TWN, AFP

Prada says retail sales jump 14 percent in 2009

MILAN -- Italian luxury house Prada on Monday reported a 14 percent jump in retail sales in 2009 despite the global economic downturn and said its operating profit for the year would be better than expected. "Preliminary figures indicate that the operating profit will be better than in FY 2008 and better than the forecasts... thanks to the excellent performance" of retail sales, the company said in a statement. Prada did not provide details of the preliminary figures.

The group's operating profit was 282 million euros (US$385 million) in 2008, a spokesman said. Prada's net profit shrank by 22 percent to 98.8 million euros in the 2008 fiscal year, which runs from February 1 to January 31.

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