Prada to post 2020 operating profit after strong second-half sales rebound

MILAN (Reuters) - Italian fashion group Prada said on Tuesday that it would close 2020 with an operating profit despite the hit from the coronavirus crisis, after revenues and profitability improved markedly in the second half of the year.

The Milanese luxury brand said it had decided to provide the unscheduled business update, before disclosing full-year results in March, due to the extraordinary situation and uncertainty created by the COVID-19 pandemic. The fallout from the COVID-19 crisis triggered a 40% decline in Prada's.....

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