PPR contemplating sale Printemps?

Rumours have been circulating that French retail giant and owner of the Gucci Group, PPR, plans to sell the 17-store-strong Printemps department store chain. Although the group declined to comment on the rumours, the market has been abuzz for about a year now. WWD claims that the market is in favour of a situation that sees PPR selling the low-margin retailer to focus more on luxury businesses. The buzz caused stock to gain 2.3 percent to close at €91.70 earlier this week on the Paris Bourse. Potential bidders for Printemps are thought to include the French Galeries Lafayette, Italian Rinascente and Spanish El Corte Ingles.