Third-quarter 2014 revenue
Kering maintains steady growth pace
∞ Revenue up 4.4% on a comparable basis
∞ Luxury activities hold firm in a complex business environment: up 3.5% on a comparable basis
∞ Positive momentum in Sport & Lifestyle: up 6.1% on a comparable basis
In the third quarter of 2014, Kering recorded €2.6 billion in revenue, up 4.4% on a comparable Group structure and exchange rate basis and up 3.3% on a reported basis. Revenue for the first nine months of the year was up 4.2% based on comparable Group structure and exchange rates.
Luxury activities reported sales growth of 3.5% on a comparable basis, driven by the strong performances of directly operated stores, particularly in North America and Japan, while Sport & Lifestyle activities advanced 6.1% on a comparable basis with sales momentum powered by the relaunch plan at Puma.
Kering maintains steady growth pace
∞ Revenue up 4.4% on a comparable basis
∞ Luxury activities hold firm in a complex business environment: up 3.5% on a comparable basis
∞ Positive momentum in Sport & Lifestyle: up 6.1% on a comparable basis
In the third quarter of 2014, Kering recorded €2.6 billion in revenue, up 4.4% on a comparable Group structure and exchange rate basis and up 3.3% on a reported basis. Revenue for the first nine months of the year was up 4.2% based on comparable Group structure and exchange rates.
Luxury activities reported sales growth of 3.5% on a comparable basis, driven by the strong performances of directly operated stores, particularly in North America and Japan, while Sport & Lifestyle activities advanced 6.1% on a comparable basis with sales momentum powered by the relaunch plan at Puma.
François-Henri Pinault, Chairman and Chief Executive Officer, commented: "The Group's consistent revenue growth quarter after quarter testifies to the relevance of our multi-brand strategy. Luxury activities held firm in a complex economic environment thanks to a strong sales uptrend in our network of directly operated stores. Sport & Lifestyle activities posted positive sales trends driven by marketing efforts at Puma, whose relaunch plan is beginning to feed through.
Faced with uncertain market conditions, we remain vigilant. The dynamic performance of the Group, which has achieved steady growth over the first nine months of the year, allows us to pursue with confidence and discipline the implementation of our strategy, aimed at taking full advantage of the strengths inherent in each of our brands."
Faced with uncertain market conditions, we remain vigilant. The dynamic performance of the Group, which has achieved steady growth over the first nine months of the year, allows us to pursue with confidence and discipline the implementation of our strategy, aimed at taking full advantage of the strengths inherent in each of our brands."
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