Luxury retail group PPR reported first quarter revenues of 4.4 billion euros ($6 billion), a 5.6 percent increase over the same period in the prior year. Revenues outside France were up 9.3 percent and accounted for 57 percent of the group’s total sales.
The Paris-based company reported that revenues at its Gucci Group subsidiary rose 10.7 percent to 937 million euros ($1.28 billion) having had double digit growth in all regions, and particularly strong performances in North America, China, and Japan. In comparable revenue, not taking into account currency fluctuations, revenues increased 15.9 percent.
Within the Gucci stable of brands, the Gucci brand itself posted a 10.2 percent increase in sales for the period. Bottega Veneta recorded strong growth 55.3 percent in all product categories and geographical areas. Yves Saint Laurent sales rose 35.5 percent in the first quarter. YSL Beaute recorded growth of 10.1 percent. Other brands: Balenciaga, Boucheron, Sergio Rossi, Bedat & Co, Stella McCartney, and Alexander McQueen – again posted strong growth at 22.4 percent.
“In the first quarter, the PPR group successfully pursued its growth and its international expansion, said Francois-Henri Pinault, PPR chairman and chief executive officer. “All of the brands of Gucci Group achieved strong growth, once again underscoring the robustness and complementarily of our portfolio of brands.
Results for PPR’s other brands are as follows:
* Fnac recorded a 5.1 percent increase in sales, driven by 12 percent growth outside of France. Sales of Fnac France were up 3.8 percent.
* Redcats Group recorded a 1.9 percent decline in revenues.
* Conforama achieved a 6 percent increase of first quarter sales.
* CFAO reported an 8.5 increase in sales for the quarter.
“Fnac and Conforama started the year on very positive notes, Redcats pursues the transformation of its business model, and CFAO’s efficiency enabled it to post another outstanding quarterly performance,” Pinault said. “These achievements reinforce our confidence for the rest of the year.”