October 29, 2012

PPR Q3 revenue surges by 6.6%

France-based luxury and retail group PPR has reported revenue of €2.6bn in the third-quarter 2012, up by 6.6% as against the same period in 2011.

By admin-demo

France-based luxury and retail group PPR has reported revenue of €2.6bn in the third-quarter 2012, up by 6.6% as against the same period in 2011.

The firm’s Luxury division revenue surged by 11.9% in the third quarter of the year, propelling the revenue growth for the first nine months of the year to 15.5%.

PPR chief executive officer and chairman François-Henri Pinault said the company has reported a satisfactory performance overall in qthe uarter with revenue for the Luxury and Sport & Lifestyle divisions mounting 6.6%.

"This quarter’s impressive performance bears witness to the complementary nature and growth potential of our brands, the strength of the Group and the balanced footprint of our businesses," Pinault added.

"This reinforces our confidence in PPR’s ability to deliver sustained revenue growth, along with gains in operating and financial performance, over the full year."

The firm said the Gucci brand delivered good performance in the quarter, with sales up by 7% in comparable terms and 16% on a reported basis.

PPR said the brand’s all product lines viewed positive growth, in particular leather goods up by 8%, while the Men’s ready-to-wear and the Children’s collection sales also reported a double-digit growth.

According to the firm, the Bottega Veneta brand posted good revenue growth in the third quarter of 2012, against a high basis of comparison, with revenue up 21% on a comparable basis and 31% in reported terms.

The firm’s Yves Saint Laurent brand has posted growth of 27% in comparable terms and 33% on a reported basis for the third quarter.

The firm said the Sport & Lifestyle division in the quarter recorded mixed results depending on the region, with a 1% decrease in comparable revenue and a 5% rise in reported revenue.