FRANCE: Spending Slowdown Hits PPR Q1 Sales
French retail giant and owner of Gucci Group NV, Pinault Printemps Redoute (PPR), on Tuesday posted a 1.6 per cent slip in third quarter sales amid a tough global retail environment. The company, Europe's biggest non-food retailer, said turnover fell to 6.42 billion euros from 6.52 billion in the year-ago period, with nine-month sales down 1.5 per cent to 19.73 billion euros from 19.75 billion euros in 2001.
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