Youth focus helps Prada sashay back to profit growth

MILAN - Italian luxury goods house Prada on Wednesday reported a return to net profit growth, following four years of threadbare results, as its strategy of targeting younger fashionistas paid off.

Net earnings rose 11 percent in the first half of the year to 106 million euros ($124 million) on sales of 1.5 billion euros, 3 percent higher than the same period last year.

Prada's CEO Patrizio Bertelli called the results "very satisfactory" and said they confirmed "the soundness of our strategic choices".