The German sportswear company Puma posted on Friday, October 31st stable third-quarter results despite weaker economic activity worldwide, and raised slightly its 2008 sales outlook but failed to convince investors.
Luxury brands appear so far to be weathering much of the current credit crunch but with consumers becoming more cautious designers are sticking with simple go-anywhere clothes and counting on accessories to tempt buyers.
French retail and luxury group PPR confirmed its full-year outlook as it posted a first-half current operating profit slightly above forecasts, helped by the sparkling performance of its luxury arm Gucci.
French retailer PPR posted better-than-expected second-quarter revenues, helped by sparkling sales at its luxury arm Gucci, but some of its retail units were, as forecast, hurt by sluggish consumer spending.
Billowy summer dresses pinned with gold shells and flared trousers from a bygone era of languid glamour dominated Gucci's pre-spring show at a 17th century hilltop villa in designer Frida Giannini's native Rome.