×
142
Fashion Jobs
SAROJ JALAN
Marketing Strategist
Permanent · KOLKATA
ADD UR CO LLP
Production Manager
Permanent · Chennai
THE GLOBAL ZONE HR SERVICES
Production Manager/ Supervisor/ Incharge
Permanent · Pune
PUMA
Manager - Digital Marketing
Permanent · Bengaluru
THE BANYAN HR CONSULTS
Brand Manager For Leading Women's Wear Garments CO at Coimbatore
Permanent · Coimbatore
LEVI'S
Manager, Retail Merchandising (Ebo)
Permanent · Bengaluru
GLAN MANAGEMENT CONSULTANCY
Senior Buyer Lingerie (Knits Western Wear) - Retail Brand
Permanent · GURUGRAM
JOB INDIA
Asst. Manager E-Com Operations (Garments Retail) Gurgaon
Permanent · Faridabad
VASTRAKALA EXPORTS
Quality Manager
Permanent · CHENNAI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Manager / in Charge - Production/Quality/Cutting - Garments Industry
Permanent · Bhiwandi
MINT AND MILK COMMUNICATIONS
Senior Account Executive
Permanent · MUMBAI
PUMA
Manager- Buying (Apparel)
Permanent · Bengaluru
PUMA
Manager- Business Intelligence
Permanent · Bengaluru
PUMA
Manager- Trade Compliance
Permanent · Bengaluru
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
PUMA
Regional Sales Manager- Mbo (South)
Permanent · Bengaluru
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
PUMA
Manager Merchandising
Permanent · Bengaluru
PUMA
Project Manager- Operations
Permanent · Bengaluru
PUMA
Manager- Logistics Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
By
Reuters
Published
Feb 17, 2011
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

PPR Q4 beats forecasts, luxury shines

By
Reuters
Published
Feb 17, 2011

Feb 17 - 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.

PPR
Bottega Veneta, owned by the Gucci Group, owned by PPR

The owner of fashion brands Balenciaga and Gucci and retailer Fnac posted a full-year current operating profit of 1.531 billion euros ($2.07 billion), above expectations of 1.487 billion based on a Reuters poll.

It proposed a dividend of 3.5 euros a share, marking a 6.1 percent 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 percent 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 percent in the third quarter.

"The slowdown in the fourth quarter is smaller than expected in the luxury division," said Natixis analyst Boris Bourdet. "Overall, it (PPR's results) is better than expected, both for the operational and the net profit. Regarding Fnac, I expected a bigger drop in the fourth quarter."

Having agreed to dispose of its Conforama furniture retailer late last year, PPR is now looking to offload home shopping business Redcats, whose comparable sales rose 0.4 percent in the fourth quarter, as well as Fnac, which saw a 0.7 percent drop in fourth-quarter like-for-like revenue.

PPR is moving away from retail to focus on sport, lifestyle and luxury and is on the lookout for acquisitions to strengthen its position in those markets.

Gucci Group generated comparable sales up 12.2 percent in 2010, compared with LVMH which saw its fashion and leather goods sales rise 13 percent and Hermes which recorded a rise of 18.9 percent.

Sportswear unit Puma on Tuesday reported 2010 sales growth of 10.6 percent and a jump in net profit of 154 percent.

PPR's full-year sales reached 14.605 billion euros, slightly beating a Reuters poll forecast of 14.476 billion.

PPR shares, which gained 41 percent in 2010, have lost nearly 5 percent since January 1 due to the luxury sector's re-rating caused by investors getting out of it in favor of more cheaply valued industries such as utilities and media.

(Editing by Mike Nesbit and Jon Loades-Carter)

© Thomson Reuters 2022 All rights reserved.