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PPR reports Q3 sales uplift

PPR, the company behind Gucci Group and Puma, saw third quarter sales rise 1.7% to €4.9 billion (£3.67bn). Comparable sales rose 1.8%.

The strong third quarter performance puts PPR's sales for the first nine months of the fiscal year ahead 8% at €14.5bn (£11.6bn). This equated to a rise of nearly 4% on a comparable basis.

The performance was driven by strong sales across Gucci, Yves Saint Laurent, Bottega Veneta and Puma. Balenciaga recorded a "high level of growth" while Alexander McQueen and Stella McCartney maintained double digit growth.

Gucci saw like-for-like sales rise 6.2% in the third quarter and Yves Saint Laurent saw its total sales rise by 27.4% over the three month period.

Puma reported a comparable sales increase of 9.2% in the third quarter.

PPR chairman and chief executive Francois-Henri Pinault said: "Thanks to a balanced business profile and the strength of its global brands, PPR achieved sales growth of more than 8% in reported terms over the first nine months of 2008, despite the deteriorating consumer environment in the third quarter."

He added: "In line with the commitments undertaken by all brands and companies before the summer, a number of action plans are being carried out while others will be initiated in the near future. The aim of these plans is to reduce costs and improve the efficiency of capital employed, while reinforcing our competitive market positions. All of our teams are working hard to make the Group emerge even stronger from the current economic turmoil. And we are confirming our full-year objective of improved operating and financial performances for 2008."

For a more detailed breakdown of PPR's third quarter results see the attached Pdf.

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