PPR Q1 revenues rise 15.4 per cent on luxury division

PARIS - French luxury and retail group PPR posted a 15.4 percent rise in first-quarter consolidated revenue on Wednesday, helped by buoyant luxury sales that offset sluggish growth at its retail outlet Fnac and sports lifestyle company Puma.

The owner of the Gucci and Yves Saint Laurent fashion brands posted sales of 3.26 billion euros ($4.30 billion) for the three months to March 31. Sales in luxury goods grew 17.8 percent on a comparable basis.

Germany's Puma, of which PPR owns 80 percent, missed expectations with a 5 percent fall in first-quarter earnings, as the group was hit by wariness among European and Chinese consumers.