European Stocks Are Little Changed; LSE Declines on LCH
European stocks were little changed
as companies from PPR SA to Aker Solutions ASA reported earnings
and finance...
Gucci Group Chief Executive Robert Polet and Yves St. Laurent Chief Executive Valerie Hermann are leaving their posts as the company reported a 25% increase in net profit in 2010.
French luxury and retail company PPR said it has entered into exclusive negotiations with South Africa-based Steinhoff International Holdings to sell it its Conforama furniture-retail chain.
PPR said third-quarter sales rose 13%, lifted by brisk business from its luxury division and improved consumption in its retail markets, with growth in sales of the catalog division Redcats.
Gucci, the luxury-goods company owned by PPR SA, said it won an injunction preventing unauthorized use of the Elisabetta Gucci name, thwarting plans by the great-granddaughter of the founder to open a chain of hotels under her moniker.
PPR SA, the French owner of Gucci Group and Conforama furniture stores, said 2009 profit unexpectedly rose after the sale of its African distribution business.
PPR SA, the world’s third-biggest luxury-goods maker, may struggle to keep the Alexander McQueen fashion label going after the death of the eponymous designer.
LONDON, August 3 (newratings.com) - Analysts at Deutsche Bank upgrade PPR SA (ticker: PPX) from "hold" to "buy." The target price has been raised from €65 to €85. [more]
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