PARIS — French diversified retailer Pinault-Printemps-Redoute is among the latest groups to come under the spotlight regarding accounting practices.
Press reports circulating in Europe on Monday said PPR is not booking an expected $492.1 million of amortization charges at its Gucci Group division — in which it holds a 53.2 percent stake — up to 2005. However, Gucci, which is listed in Amsterdam and New York, books its goodwill and trademark amortization charges on its acquisitions, including Yves Saint Laurent, Bottega Veneta and Sergio Rossi, over 20 years from the time of purchase. This is in line with the U.S. Securities and Exchange Commission rulings.
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)