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November 07, 2007
PPR Gets Earnings Boost From Luxury Brands
French conglomerate PPR reported a 22 percent increase in third-quarter sales, thanks to income from its recent acquisition of Puma and a strong performance by Gucci. Sales for the quarter ended Sept. 30 reached $7.1 billion from $5.4 billion a year ago.
The group said that it saw growth of 10.5% in its luxury brand division, which includes Gucci, Yves Saint Laurent and Bottega Veneta. Gucci was a particular bright spot with a 4.8% increase in sales to $742 million. Bottega Veneta saw a 39.2 % jump but at a lower volume. Veneta’s sales totaled $132.4 million.
PPR also made strong gains in its jewelry division, which climbed 11% in the quarter.
Posted by Blacks on November 7, 2007 09:22 AM
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