French group PPR 2012 sales rise 20.8 percent

PARIS (AP) - Strong luxury sales outside Europe raised French retail and luxury group PPR's 2012 revenue and profits, after the company behind Gucci and Yves Saint Laurent jettisoned two of its weaker brands and pressed hard into emerging markets.

PPR reported that net income rose 6.3 percent to 1.4 billion euros as sales rose 20 percent to 9.7 billion euros.

Sales in Asia, excluding Japan, accounted for a quarter of PPR's total _ a slight increase over 2011.

The company's bottom line was strengthened considerably by its decision to shed Redcats, the catalogue and online retailer, and media superstore Fnac. PPR reported a net loss of about 276 million euros from discontinued operations.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Rock Star Rages
    A rock star lashed out on Twitter after a Seattle restaurant denied him entry

  • Stop Cheering
    Don O'Neill says we shouldn't be giving standing ovations to a team that didn't make playoffs

  • Biggest Catch
    Take a look at the records for biggest saltwater fish ever caught in Washington
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.