∞Comparable revenue up 3%
∞Luxury Division performance up 6% on a comparable basis (up 8% in directly operated stores)
∞Further headway in Group transformation
In the first quarter of 2013, Kering recorded €2.4 billion in revenue, up 3.1% on a comparable Group structure and exchange rate basis and up 1.0% on first-quarter 2012 as reported.
Revenue for the Luxury Division advanced 6.4% on a comparable basis and 4.5% on a reported basis, with growth in all geographic areas. The Sport & Lifestyle Division reported a drop in revenue of 2.5% on a comparable basis and 4.9% as reported.
François-Henri Pinault, Kering Chairman and Chief Executive Officer, commented: “Kering’s sales activities since the beginning of 2013 have been powered by our Luxury Division, which has continued to make headways in all regions of the world. In Fashion and Leather Goods, our robust performance above and beyond the very high base of comparison established last year confirms the tremendous appeal of our brands. In a jumpier environment, notably in Europe, sales of our Sport & Lifestyle Division contracted somewhat in the first months of the year. Following the appointment of its new CEO, Björn Gulden, Puma will step up the pace of implementation of its transformation plan. In this context, we remain firmly focused on controlling costs and preserving our gross margins. The unique strengths of each of our brands, combined with the energy and imagination of our teams, reinforce our confidence in the future and in our ability to further improve our performances in the full year.”
Kering will hold a conference call for analysts and investors at 6:00pm (Continental Europe) / 5:00pm (UK) / 12:00 (East Coast, USA), on Thursday April 25, 2013.
Conference call dial-in:
France+ 33 (0)1 70 99 42 77
UK+ 44 (0)20 3140 8286
US+ 1 646 254 3364
Access code: 6553428
France+ 33 (0) 1 74 20 28 00
UK+ 44 (0)20 3427 0598
US+ 1 347 366 9565
Replay access code: 6553428 (until May 8, 2013)
The slides (PDF) will be available ahead of the conference call at www.kering.com
A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Sergio Rossi, Boucheron, Girard-Perregaux, JeanRichard, Qeelin, Puma, Volcom, Cobra, Electric and Tretorn. By ‘empowering imagination’ in the fullest sense, Kering encourages its brands to reach their potential, in the most sustainable manner.
Present in more than 120 countries, the Group generated revenues of €9.7 billion in 2012 and had 33,000 employees at year end. The PPR (in future Kering) share is listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP).
* PPR will become Kering, subject to approval at the Annual General Meeting on 18 June 2013.