PPR continues restructure to counter drop in sales

Published: 18-Feb-2010
Finance

Luxury products and distribution group PPR, which includes the Yves Saint Laurent brand, has reported a 5.5% drop in sales for 2009


Luxury products and distribution group PPR, which includes the Yves Saint Laurent brand, has reported a 5.5% drop in sales for 2009 with cost reductions helping maintain margins. The company is currently continuing with a comprehensive restructuring programme to counter lower sales.

Operating profits for last year fell 4% to €1.3bn with a stable margin on sales of 8.4%. The downturn slowed during fourth quarter 2009 to a fall of 2.3% compared with 6.6% in the first nine months. Luxury product brands all posted a rise in Q4 with the exception of Yves Saint Laurent which dipped 3.9%.

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