French luxury group PPR posts strong first-half sales
The company said sales were up in the January-to-June period by 17 percent from a year before at 6.39 billion euros ($7.85 billion).
Bottega Veneta AW 2012/2013 (photo Pixel Formula)
The numbers were higher than the 5.1 percent increase in net profit and 15 percent increase in sales forecast by analysts polled by Dow Jones Newswires.
The company said sales of luxury goods, which include fashion brands like Gucci, Yves Saint Laurent and jeweler Boucheron, were up 30.7 percent to 2.9 billion euros.
But sales in the sports and lifestyle division dropped 9.2 percent, dragged down by the poor performance of Puma.
"PPR's performance is very satisfactory, and even excellent in luxury," group finance director Jean-Marc Duplaix said in a conference call.
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