logo
  

Kering Q1 Sales Up 27.4%

French luxury goods company Kering SA (PPRUY.PK,PPRUF.PK) Thursday reported first-quarter sales revenues of 4.96 billion euros, up 27.4% to 3.89 billion euros last year. On a comparable basis, sales were up 21.4 percent.

Among brands, Gucci sales rose 19.5 percent, Bottega Veneta rose 20.8 percent, Yves Saint Laurent gained 43.0 percent, other houses rose 35.5 percent and Kering Eyewear and Corporate rose 60.5 percent.

Commenting on the results, Chairman and CEO François-Henri Pinault said, "We opened 2022 on a very solid first quarter in a more uncertain environment, notably impacted by tightening Covid restrictions in China since March. All our Houses posted double-digit revenue growth in the quarter, with spectacular performances at Saint Laurent, our Other Houses, particularly Balenciaga, and Kering Eyewear. Bottega Veneta also delivered sharp higher sales on a more demanding base. Gucci's strong showing in North America and Europe was overshadowed by its exposure to China, where we are boosting its organization to fully capture the vitality of the market."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ice Cream maker Ben & Jerry's reportedly filed a lawsuit against parent and British consumer giant Unilever to stop the sale of its Israeli business to a local license-holder Avi Zinger. The company alleged that the decision was made without the approval of its independent board. The judge reportedly denied Ben & Jerry's application for a temporary restraining order against Unilever. J&M Foods is recalling certain Lavender Shortbread Cookies sold through department store chain Target Corp. due to undeclared allergens, the U.S. Food and Drug Administration said. These packages were erroneously packed with Chocolate Chip Cookies and do not disclose the presence of a possible allergen, such as soy or eggs. A multi-state listeria outbreak that has killed one and sickened at least 23 others has been linked to Florida -based Big Olaf Creamery brand ice cream, according to the Centers for Disease Control and Prevention or CDC. The outbreak strain has been reported from 10 states, resulting in 22 hospitalizations. One death has been reported from Illinois.
RELATED NEWS
Follow RTT