Italian luxury goods maker Prada reported a slight fall in preliminary revenues on Wednesday, hit by lacklustre sales in Greater China due to slowing economic growth and a crackdown on extravagance.

Consolidated net revenue fell 0.2 percent for a year earlier to 3.54 billion euros ($3.94 billion) in the 12 months to Jan. 31.

A weaker Chinese yuan and a shift in consumer tastes to more affordable brands also discouraged purchases by mainland Chinese tourists in Hong Kong, a traditional shopping hub, in the three months through January.

Prada's shares have slumped 44 percent over the past year, underperforming the benchmark Hang Seng Index which has fallen 19 percent in the same period.

Growth in the luxury goods sector has fallen to low single digits from more than 10 percent four years ago, as customers hunt for bargains and favour more affordable labels such as Furla, Longchamp and Kate Spade in the United States.

$1 = 0.8974 euros