Pursuits
PPR First-Quarter Sales Trail Estimates as Gucci Slows
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PPR SA fell the most since 2011 in Paris after first-quarter revenue missed estimates as softer third-party sales in Europe and fewer store openings in China led Gucci to post its weakest growth in more than three years.
Sales from continuing operations climbed 1 percent to 2.37 billion euros ($3.1 billion), the Paris-based company said yesterday in a statement after markets closed. Analysts predicted 2.41 billion euros, according to the average of four estimates compiled by Bloomberg. Excluding acquisitions and currency fluctuations, revenue rose 3.1 percent.