Revenue for the Luxury Division advanced 6.4% on a comparable basis and 4.5% on a reported basis, with growth in all geographic areas. The Sport & Lifestyle Division reported a drop in revenue of 2.5% on a comparable basis and 4.9% as reported.

François-Henri Pinault, Kering Chairman and Chief Executive Officer, commented: “Kering’s sales activities since the beginning of 2013 have been powered by our Luxury Division, which has continued to make headways in all regions of the world. In Fashion and Leather Goods, our robust performance above and beyond the very high base of comparison established last year confirms the tremendous appeal of our brands. In a jumpier environment, notably in Europe, sales of our Sport & Lifestyle Division contracted somewhat in the first months of the year.

“Following the appointment of its new CEO, Björn Gulden, Puma will step up the pace of implementation of its transformation plan. In this context, we remain firmly focused on controlling costs and preserving our gross margins. The unique strengths of each of our brands, combined with the energy and imagination of our teams, reinforce our confidence in the future and in our ability to further improve our performances in the full year.”

Kering