| Updated:
SALES RISE AT GUCCI’S OWNER PPR
PPR, the French luxury and retail group, said sales rose 11.1 per cent to €12.2bn (£10.1bn) last year as strong luxury profits helped compensate for a big drop at its books and electronics chain Fnac. The owner of designer brands including Gucci and Yves Saint Laurent posted a 2.3 per cent rise in net profit to €986.3m. PPR, which is trying to exit its retail business, is in the process of selling its mail order firm Redcats and also plans to sell Fnac.