By  on October 21, 2009

PARIS — PPR SA reported a worse-than-expected slump in third-quarter sales, reflecting the continuing economic crisis, a decrease in tourist flows and a slowdown in wholesale orders as retailers preferred to keep inventories low.

The French retail-to-luxury group said sales in the July to September period declined 7.6 percent to 4.56 billion euros, or $6.58 billion. Sales were down 8 percent on a comparable basis versus forecasts of a 6 percent drop. Dollar figures were converted at average exchange rates for the period.

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