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.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus