PARIS — The weak euro should have little effect on 2010 sales at retail-to-luxury group PPR, since any negative hedging effects will be compensated by its favorable impact on the conversion of revenues from subsidiaries outside the euro zone, PPR chairman and chief executive officer François-Henri Pinault said Wednesday.
“The inefficiency of our foreign exchange hedges, if the euro remains at this level, will be largely compensated by the conversion effects of foreign subsidiaries at the group level this year,” Pinault told the annual meeting of shareholders here.
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