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January 22, 2002

FRANCE: Pinault Printemps Hit By US Slowdown

French retail group Pinault Printemps Redoute SA today confirmed full-year 2001 revenue of €27.80 billion compared with €24.76 billion in 2000, with figures hit by a dramatic slowdown during the fourth quarter in the US. Despite this drop, sales of its clothing and luxury goods division - it controls 53 per cent of Gucci Group NV - held up well.

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