∞ Revenue up 4% on a comparable basis
∞ Strong performance in Luxury: up 13% in directly operated stores
∞ Improved trends in Sport & Lifestyle
In the first quarter of 2014, Kering recorded €2.4 billion in revenue, up 4.1% on a comparable Group structure and exchange rate basis and up 1.2% over the first quarter of 2013 as reported.
The Luxury activities posted growth of 6.3% on a comparable basis, with directly operated stores turning in strong performances across all regions. Revenues from Sport & Lifestyle activities remained virtually stable, down by 0.2% on a comparable basis.
François-Henri Pinault, Chairman and Chief Executive Officer, commented: "The solid performance of our Luxury activities, driven by continued sales growth in our directly operated stores, testifies to both the strength of our brands and the pertinence of our strategy, prioritising brand elevation, in-store excellence and organic growth. In an environment that remains mixed, our Sport & Lifestyle activities are posting improving trends. We are confident that the Group's energy and robust business model, combined with the extraordinary potential of our brands and the motivation of our team, will enable Kering to improve its operating performance in 2014 as a whole."
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, McQ, Stella McCartney, Tomas Maier, Sergio Rossi, Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato, 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 2013 and had more than 35,000 employees at year end. The Kering (previously PPR) share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).
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