PARIS — Dramatic swings in international currency markets dampened the first-quarter sales performance at French distribution conglomerate Pinault-Printemps-Redoute.
The firm on Thursday reported first-quarter revenue declined 6 percent to $6.87 billion, compared with $7.3 billion in the year-earlier period. On a comparable basis, however, excluding the effects of currency fluctuation, sales increased 2.8 percent. Dollar figures are converted from the euro at current exchange.
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