By  on July 29, 2011

PARIS — French retail-to-luxury group PPR aims to sell its mail-order division Redcats by the end of the year, but is ready to defer the sale if global financial markets plummet due to the U.S. debt crisis or a possible debt default in Europe, PPR chairman and chief executive officer François-Henri Pinault said.

Pinault made the comments in an interview with WWD Friday after PPR revealed its overall sales growth slowed in the second quarter to 5.4 percent from 9.1 percent in the first three months of the year, as strong performances in its luxury goods and sports and lifestyle divisions were offset by weakness in the retail activities it is trying to shed.

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