Jul 26, 2007
Download the article
Click here to print
Text size
aA+ aA-

French luxury goods group PPR says Puma boost sales

Jul 26, 2007

PPR, the French luxury goods empire, said on Thursday, July 26 that second-quarter sales had risen by 18,1 % to 4,793 euros on a 12-month comparison, driven by its acquisition of German sportsgear maker Puma.

Puma 96 Hours

Sales grew by 5,6 % from the equivalent figure last year on a comparable basis, lifted by strong demand for its luxury goods products.

Analysts at Thomson Financial had expected a turnover of 4,438 billion euros.

The Gucci division, which also includes Yves Saint Laurent and other brands, posted sales of 836,5 million euros, up 7,7 % overall and up 13,5 % on a like for like basis.

Sales at the Redcats mass market business, including La Redoute mail order service, fell by 1,4 % to 1,059 billion euros, a 4,2 % like for like drop, "in an environment which remained challenging", PPR said.

PPR shares gained 1,59 % on the results in opening deals on the Paris stock exchange to 132,74 euros, on a market which was 0,29 % higher.

Earlier in July PPR announced it had acquired a stake of 62,1 % in German sportsgear maker Puma following its offer for public shares.

In a surprise announcement in April, PPR said it had agreed to buy a 27 % stake in Puma and launch a full public takeover offer for the rest in a bid that valued the German company at a total 5,3 billion euros.

Copyright © 2023 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.