PPR sales drop 8% on economy, fewer tourists
Market Watch (Free subscription) | 10/20/2009
LONDON (MarketWatch) -- PPR Group , the owner of Fnac, Redcats, Conforama, CFAO, Puma and Gucci Group, said third-quarter revenue fell 7.6% to 4.56 billion euros ($6.8 billion), a drop of 8% on a comparable basis. PPR blamed a lackluster economy, a higher base of comparison, a drop in tourism flows and diminished wholesale activity. Market Pulse Stories are Rapid-fire, short news bursts on...