Gucci results keep PPR positive
23/07/2008
French retail group PPR, which owns luxury fashion and leathergoods brand Gucci, has posted second-quarter sales growth of 5.1% compared to the same period last year.
The company said it was confident it could continue to improve its financial performance in the course of the rest of 2008.
Revenue for the three-month period was EUR 4.68 billion. Gucci is reported to contribute onl11% of sales for the group, but 33% of profits.
Some industry commentators expected slower sales in the US to affect Gucci badly, pointing out that it has a less extensive sales network in Asia than rival leathergoods brands such as Louis Vuitton.
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