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PPR like-for-like sales fall 4.9% in first quarter

PPR, the luxury goods group which owns the Gucci brand, saw sales drop 4.9% on a comparable basis for the first quarter of 2009.

PPR’s total group sales were down 2.6% to €4.8 billion (£4.2bn) for the period. However, sales at the Gucci brand were up 1% on a comparable basis (and at comparable exchange rates) and up 10.6% in total to €567.1m (£500m).

Like-for-like sales at the Yves Saint Laurent and Puma brands saw comparable sales fall 10.2% and 3.3% respectively.

PPR’s e-commerce sales were up 7% over the period

PPR said the Alexander McQueen brand recorded “a slight increase” in sales over the quarter, while the Stella McCartney brand had a mixed performance.

PPR chief executive Francois-Henri Pinault said: “Our group’s sales in the early months of the year underscores PPR’s capacity to withstand the deterioration and volatility of its operating environment. We intend to pursue the action plans aimed at meeting the objectives we have set ourselves for 2009: to sharpen our competitive edge and reinforce our positions in all our businesses.”

 

 

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