PARIS – Trumpeting “impressive” growth in its luxury division, PPR on Thursday said second-quarter sales gained 6.2 percent to 4.06 billion euros, besting most analysts’ forecasts.
The French conglomerate, which runs Gucci Group, said luxury sales in the three months through June 30 bounded 21.6 percent to 777 million euros, driven by the star Gucci brand, where sales jumped 25 percent as the Italian firm sold more leather goods, shoes and jewelry.
Bottega Veneta also logged robust growth, reporting an 81 percent gain in sales. The money-losing Yves Saint Laurent brand showed signs of health as its sales gained 29 percent, boosted by healthy double-digit gains at both directly-owned stores and at wholesale accounts.
Retail was less stellar for PPR. The division, which includes the Fnac music and book chain and the Conforama furniture stores, saw sales edge ahead 4 percent to 3.28 billion euros.
For complete coverage, see tomorrow’s issue of WWD.