Zhi Tong Cai Jing·2025-12-22 03:18Core Viewpoint - Prada's stock has seen a decline of over 5%, currently trading at 44.84 HKD, with a trading volume of 13.08 million HKD, as analysts express concerns about the brand's ability to maintain growth amidst a new wave of creativity in the luxury fashion sector [1] Group 1: Brand Performance - Morgan Stanley reports that while the Prada brand remains robust, the growth rate of the Miu Miu brand is expected to slow significantly, with a projected year-on-year growth of only 17% in Q4, down from 29% in Q3 and 49% in the first half of the year [1] - Citigroup forecasts that Prada's sales for Q4 FY2025 will see a year-on-year increase of 6% at constant exchange rates, but a reported decline of 1% to 1.59 billion EUR [1] - Retail sales by brand are expected to remain flat for Prada (with a 1% decline in Q3) and a 20% year-on-year growth for Miu Miu (down from 29% growth in Q3) [1] Group 2: Financial Projections - The EBIT for the second half of the year is projected to decline by 3% to 685 million EUR, with the EBIT margin expected to narrow by 100 basis points to 23.4% year-on-year [1]