Following the terrorist attacks in Paris in November and in Brussels in March, the business world—in search of the financial fallout—swiveled its collective head to the aviation and hotel sectors, where the cities’ immediate shutdown and fears of follow-up incidents moved the market.
But as they report their results this earnings season—some five months after the Paris attacks—luxury companies are reminding investors that they too got snagged in the aftermath.
In reporting its worst annual results in years, Prada prdsf —whose profits fell a whopping 27%—said that its tourism-driven organic growth in Europe had slowed in the fourth quarter of 2015 “due to terrorists attacks in France.” Its sales in the region increased 6% from just under €1 billion ($1.1 billion) in 2014 to €1.05 billion ($1.2 billion) in 2015.
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Following the terrorist attacks in Paris in November and in Brussels in March, the business world—in search of the financial fallout—swiveled its collective head to the aviation and hotel sectors, where the cities’ immediate shutdown and fears of follow-up incidents moved the market.
But as they report their results this earnings season—some five months after the Paris attacks—luxury companies are reminding investors that they too got snagged in the aftermath.
In reporting its worst annual results in years, Prada prdsf —whose profits fell a whopping 27%—said that its tourism-driven organic growth in Europe had slowed in the fourth quarter of 2015 “due to terrorists attacks in France.” Its sales in the region increased 6% from just under €1 billion ($1.1 billion) in 2014 to €1.05 billion ($1.2 billion) in 2015.
Read More- Fortune
Image courtesy of AP
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