2007 off to strong start: leading luxury goods player PPR

30 Apr '07

3 min read

In the first quarter of 2007, PPR posted revenues of € 4.4 billion, up 5.6% at comparable structure and exchange rates on the first quarter of 2006. Revenues outside France were up 9.3% and accounted for 57% of the Group's total sales.

François-Henri Pinault, Chairman and Chief Executive Officer of PPR, stated: “In the first quarter, the PPR group successfully pursued its growth and its international expansion. All of the brands of Gucci Group achieved strong growth, once again underscoring the robustness and complementarity of our portfolio of brands. Fnac and Conforama started the year on very positive notes, Redcats pursues the transformation of its business model, and CFAO's efficiency enabled it to post another outstanding quarterly performance. These achievements reinforce our confidence for the rest of the year.”

Fnac
Fnac recorded a highly satisfactory start to the year, posting a 5.2% increase in sales on a comparable basis, driven notably by strong growth outside of France (+12%). Sales of Fnac France were up 3.8%, reflecting continuing growth in sales of technical products (+11%) and confirmation of the success of its out-of-town store format, with a second store opening in Bayonne in February. Eleven new Fnac stores will open in France and elsewhere by the end of 2007.

Redcats Group
Redcats Group recorded a 1.9% decline in revenues on a reported basis and a 5.1% decline on a comparable basis in a challenging environment. La Redoute posted strong performances in and outside France, as did The Sportsman's Guide and large-size brands in the US. Regarding other brands which are in the process of being repositioned,

More Kering News... More Fashion News - France...