Gucci sales buck the trend at PPR
03/08/2009
Luxury goods group PPR, which owns the Yves Saint Laurent and Gucci brands, has reported a 76% decline in earnings for the first half of 2009.
net profit for the six-month period totalled EUR189 million compared with EUR777 million during the same period last year. Revenues dropped 4% to EUR9.24 billion during the first half.
However, sales of luxury goods at Gucci rose 15% during the six-month period as a result of higher sales in emerging markets.
Chairman and CEO, Francois-Henri Pinault, said PPR was satisfied with its performance to-date.
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