Third-quarter 2013 revenue
∞ Revenue up 3% on a comparable basis
∞ Balanced growth in Luxury: revenue up 6% on a comparable basis
Kering posted third-quarter 2013 revenue of €2.5 billion, up 3.4% versus the same 2012 period based on comparable Group structure and exchange rates. Kering's revenue for the first nine months of the year was up 3.9% based on comparable Group structure and exchange rates.
The Luxury Division achieved further growth across all regions, with revenue up 5.6% in the quarter and up 7.1% in the first nine months of the year on a comparable basis. Fashion and Leather Goods sales advanced 6% during the quarter. The Sport & Lifestyle Division's revenue contracted slightly (down 0.9% on a comparable basis).
François-Henri Pinault, Chairman and Chief Executive Officer, commented: "Kering posted another quarter of growth, propelled by the Luxury Division's strong performance, notably in our own store network. This performance underscores the strategic rationale of our multi-brand business model and the success of our diversification strategy in terms of geographical coverage, distribution channels and product categories. Revenue generated by the Sport & Lifestyle Division contracted, in line with our forecast, impacted by the unfavorable consumer spending environment. A new management team has been appointed to radically transform Puma and restore the brand's powerful position. With very healthy gross margins in our luxury brands and continued tight control of our operating expenses, we remain confident in our performances for the year as a whole.”
Kering will hold an audiocast for analysts and investors at 6.00pm (CET) / 5.00pm (UK) / 12.00pm (US, East Coast) on Thursday, October 24, 2013.
Available on www.kering.com (Finance section)
The audiocast will also be available by phone, using one of the dial-in numbers below:
France + 33 (0)1 76 77 22 29
UK +44 (0)20 3427 1911
USA +1 (646) 254 3363
Access code: 9572530
A replay of the audiocast will be available on www.kering.com (Finance section).
The slides (PDF) will be available ahead of the audiocast 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, McQ, Stella McCartney, 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 2012 and had 33,000 employees at year end. The Kering (previously PPR) share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).