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Kering Group 1H Sales +17%, But Luxury Sales Flat

Jul 28, 2015 4:48 AM   By Ronen Shnidman
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RAPAPORT... Luxury retailer Kering reported that sales increased 17 percent year on year to $6.1 billion (EUR 5.5 billion) during the first six months of 2015. The group said sales were boosted by a weaker euro and solid growth in Western Europe and  Japan. Sales in emerging markets were stable. The company noted that sales grew 4 percent during the period on a comparable-store basis, excluding for changes in group structure, store count and foreign-currency exchange rates.

Kering’s brands include Gucci, Yves Saint Laurent and Boucheron. Despite increased sales, recurring operating income within the luxury segment, which includes jewelry sales, was flat at $892 million.

The group’s share of net income more than doubled to $468.2 million. However, net income from recurring items fell 13 percent to $541.3 million.
Tags: boucheron, euro, gucci, kering, Ronen Shnidman
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