By  on July 31, 2009

PARIS — Despite the ongoing economic crisis, which bit heavily into its retail business, PPR reported better-than-expected second-quarter sales and first-half profits, helped by strong sales of Gucci and Bottega Veneta bags in Asia.

The French luxury-to-retail company said Friday net profits in the first half ended June 30 dropped 76 percent to 189 million euros, or $251.4 million, from 777 million euros, or $1.19 billion, a year earlier, when PPR booked extraordinary gains from the sale to L’Oréal of its beauty and cosmetics business, YSL Beauté. PPR doesn’t provide quarterly profit figures.

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