Prada 2013 Profit Rises 0.3%

Prada SpA PRDSY reported a gain in its 2013 full-year profit. Prada's profit for the year rose 0.3% to 627.8 million euros ($866.01 million). However, analysts were projecting a profit of 673.58 million euros. Its sales climbed 8.8% to 3.59 billion euros. Prada's sales in Europe climbed 5%, while sales in Asia-Pacific jumped 11.4%. Prada's shares closed at $16.00 yesterday.