Dive Brief:

• Prada reported profits that missed expectations, and tempered its outlook for coming months, in a retail market that is slowing for luxury goods.

• The retailer characterized same-store sales as rising at low single-digit levels through January 2015 and mid single-digit after, compared to its 7% sales increase for 2013.

• The company plans to open 120 new stores through 2016. 50 will be for-men-only, where Prada and other clothing retailers see strong growth.

Dive Insight:

Prada's report is a harbinger for a lot of upscale retailers. It’s not so much that the rich are getting poorer, it’s just that their money doesn’t go quite as far, with the Euro rising and the dollar weakening. And for luxury makers, it doesn’t help that China’s blockbuster growth is slightly ebbing. Watch for more apparel retailers to stake a lot on menswear, where they could find success, but also stiff competition.