Puma's good results for the second quarter were again partly offset by weaker results at Volcom and other parts of Kering's Sport & Lifestyle segment, which continued to struggle in a difficult retail environment in the U.S. The total revenues of the segment increased by 15.7 percent to $1,022.4 million for the quarter, with growth of 14.7 percent on a comparable basis. However, while Puma rose by 17.0 in euros and by 16.1 percent in comparable terms, the other brands declined by 5.5 percent to €105.5 million, down by 7.4 percent on a comparable basis. Thanks to Puma, the turnover of the division reached a level of more than €2 billion for the first time during the first six months of this year, rising by 15.7 percent to €2,086.5 million, and its operating income went up by €128.7 million to €110.0 million. The operating loss of the other brands declined to €3.2 million from €4.4 million in the first half of last year. The bulk of Kering's revenues continued to come from Gucci and its other luxury brands, whose sales increased by 26.0 percent to €5,031.2 million in the first half, generating 49.4 percent higher operating earnings of €1,254.2 million.

Topics