France’s PPR Posts Fall In Sales In Q4, FY 2003
January 15, 04
French lifestyle and luxury goods seller Pinault-Printemps-Redoute (PPR) reports a 12 percent fall in fourth quarter sales on the same period of 2002 and an 11 percent fall in 2003 sales compared with 2002.
PPR owns the Printemps department store chain in France, as well as luxury goods maker Gucci and Yves Saint Lauren, and also has pharmaceuticals and gift voucher firms.
PPR saw fourth quarter sales fall to €6.712 billion from €7.64 billion a year earlier. For 2003, the firm’s sales fell to €24.36 billion from €27.37 billion in 2002.
PPR said it was pleased with its retail sales in France and internationally while the luxury goods sector had shown a rebound since the summer.
The firm posted rises in sales at its retail and luxury goods divisions in both the fourth quarter and 2003 as a whole, while sharp falls were recorded at its Rexel financial services unit.