Prada says shop closures to offset openings in 2016/17

Italian fashion house Prada will offset new shop openings with selective closures this year and the next in an effort to shield profit margins from weaker demand. "I don't see a real change in the market trend," Prada Chairman Carlo Mazzi told an analyst call on Monday. "The problems of the market in terms of the world's economic situation and of changes...in consumers, especially the new generations...are quite clear for everybody." Prada embarked on a breakneck retail expansion after listing o