PARIS — PPR, the French parent of Gucci Group, on Thursday reported stable profits for the year despite a slowdown in sales growth in the fourth quarter due to the worsening world economy.
PPR said net income in 2008 from continuing operations inched forward 0.1 percent to 875 million euros, or $1.29 billion, a result that chairman and chief executive officer François-Henri Pinault called “particularly satisfying” in the “deteriorated” environment. Dollar figures are converted at average exchange rates for the respective periods.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)