Maker of Gucci, Puma sees sales rise despite market jitters

AP News
Posted: Apr 21, 2016 12:04 PM

PARIS (AP) — French luxury goods and sportswear maker Kering says its sales rose 2.7 percent in the first quarter of 2016 thanks to good demand in Western Europe, Japan and emerging economies.

The company, whose brands include Gucci and Puma, said when stripping out factors like currency shifts, sales were up an even stronger 4 percent in the first three months of the year compared to the same time period last year.

Chairman and CEO Francois-Henri Pinault said "we are confident that we can extend our growth trajectory over the full year." He said the sales growth was achieved despite a challenging market environment.

The global economy has been through a rough few months, with growth slowing in key markets like China, Brazil and other developing countries.