Pursuits
PPR Profit Rises as Asian Demand Offsets Gucci in North America
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PPR SA, the owner of Bottega Veneta and Fnac retail chain, said first-half profit surged 87 percent as demand for clothing and accessories in Asia offset faltering wholesale revenue at the Gucci brand in North America.
Profit from continuing operations advanced to 407 million euros ($531.8 million) from 217.9 million euros a year earlier, PPR said in a statement. Net income more than doubled to 402.8 million euros after PPR spun off a unit. That beat the 327.5 million-euro average estimate of analysts surveyed by Bloomberg.