PPR beats forecasts as Gucci and Yves Saint Lauren shine

first_imgThursday 17 February 2011 8:24 pm FRENCH luxury and retail group PPR posted a forecast-beating current operating profit for 2010, boosted by a recovery in the luxury market and solid growth at its Puma sportswear brand.The owner of fashion brands Balenciaga and Gucci and retailer Fnac posted a full-year current operating profit of €1.53bn (£1.28bn) – above expectations of €1.487bn based on an analysts’ poll.It proposed a dividend of €3.5 a share, marking a 6.1 per cent increase against the previous year.PPR did not give a precise target for 2011 aside from improving sales and profits against the previous year.In the fourth quarter alone, the group’s luxury division Gucci Group enjoyed the strongest growth with a 14.4 per cent rise in comparable sales, driven mainly by smaller brands than Gucci such as Bottega Veneta, Yves Saint Laurent and Balenciaga.Gucci Group’s fourth-quarter performance compared with growth of 16.7 per cent in the third quarter.“The slowdown in the fourth quarter is smaller than expected in the luxury division,” said Natixis analyst Boris Bourdet. “Overall, [PPR’s results are] are better than expected.” PPR’s Puma also saw sales rises 10.6 per cent in 2010, with a net profit jump of 154 per cent. KCS-content Share PPR beats forecasts as Gucci and Yves Saint Lauren shine More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKansas coach fired for using N-word toward Black playerthegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comcenter_img Show Comments ▼ whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Tags: NULLlast_img