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PPR posts Q3 sales growth

French luxury fashion group PPR, the business behind brands including Gucci, Stella McCartney and Alexander McQueen, saw revenues rise 7% in the third quarter with sales in luxury and sports driving the growth.

In the three months to September 30 group revenue rose by 7% to €3.9bn (£3.4bn) with “strong momentum” across all territories aiding a 24.6% leap in luxury sales to €1.3bn (£1.1bn). Revenues in the sports and lifestyle sector grew by 9.9% to €924m (£808m).

At Gucci revenues jumped 21% with retail revenue up 22% and wholesale revenue up 16%. Revenues at Bottega Veneta surged 39%, sales at directly operated stores rose by 34% and wholesale jumped by 64%, due to a successful autumn 11 collection.

In third quarter, Yves Saint Laurent reported sharp year-on-year revenue growth of 35%, directly operated stores and wholesale posted growth of 40% and 46% respectively.

PPR said Alexander McQueen posted a jump in revenue for the period, while Stella McCartney recorded another good quarter in all regions.

François-Henri Pinault, chairman and chief executive officer, said: “PPR put in another sparkling performance this quarter, with all product categories and sales channels within the Luxury Goods and Sport & Lifestyle businesses contributing to growth.”

He added: “Our retailing activities also proved resilient in the face of economic headwinds. While we remain vigilant, we are confident in the strength of our brands and the significant long-term potential of their markets. Over the full year, PPR has the ability to deliver sustained revenue growth and achieve higher financial performances than in 2010.”

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