PPR Q3 revenue jumps 7%
French luxury goods group PPR, which owns Puma, has posted third quarter 2011 revenue of EUR3.9 billion, up 7% versus the same 2010 period on a comparable basis, and has advanced in all geographic areas.
This solid performance notably reflected the continued strong momentum of the luxury goods and sport and lifestyle businesses across all regions. Luxury goods posted a 24.6% leap in revenue in the third quarter of the year, driving revenue growth for the first nine months of the year to 23.7%. Revenue recorded by the sport and lifestyle group came out 9.9% higher in third quarter 2011, pushing growth for the first nine months of the year to 9.6%.
François-Henri Pinault, chairman and CEO, said: “PPR put in another sparkling performance this quarter, with all product categories and sales channels within the luxury goods and sport and lifestyle businesses contributing to growth. 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.”
