Puma gives PPR a Q4 lift
French luxury goods retailer PPR has posted a 15.1% increase in sales for its fourth quarter. The rise is partially related to the company's acquisition of German sportswear firm Puma last year. Sales for the fourth quarter totalled €5.9 billion ($8.7 billion), up 15% on a reported basis and up 6% on a comparable basis.
Puma's sales rose 10.3% in the fourth quarter on a comparable basis. All product categories posted solid growth, with footwear up 7%, apparel up 14.8% and accessories up 14%. The EMEA region posted the strongest growth (+20%), followed by Asia-Pacific (+14%), which was driven by the buoyant Japanese and Chinese markets. The Americas region recorded a limited decline in the fourth quarter (-3%), which has been attributed to general economic decline in the US.
Revenues for the full year totalled €19.8 billion, up 16% on a reported basis and up 7% on a comparable basis compared with 2007. Overseas revenues accounted for 59% of total sales. PPR confirmed its leadership in e-commerce, with Group companies posting a combined 21% increase in total online sales to EUR1.772 billion.
