Prada first-quarter profit declines 44 percent

Italian luxury goods maker Prada posted a 44.2 percent fall in first quarter earnings on Friday amid weak domestic consumption and fewer tourist purchases in Asia Pacific.

Revenue rose 6.5 percent to 828.2 million euros. Net income fell to 58.7 million euros ($65.6 million) or 0.02 euros per share in the three months ended April 30.

Prada store Wuhan, China