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Retail, Online Sales Drive Luxottica 3Q Revenues Up 2.9%

Posted On: Oct 22, 2018   |   Posted By: WWD

MILAN - Ahead of the mandatory exchange offer that will finalize the merger with Essilor, Luxottica Group on Monday reported a 2.9 percent increase in revenues in the third quarter of the year and confirmed its outlook for 2018, with sales growth of 2 percent.
In the three months ended Sept. 30, the Italian eyewear group saw sales rise to 2.21 billion euros, compared with 2.15 billion euros in the same quarter last year. At constant exchange rates, sales grew 3.5 percent. The company attributed the increase to the strong performance of the retail division and e-commerce platforms as well as solid growth in Europe, North America and Asia-Pacific.
In the nine months ended Sept. 30, sales decreased 4.5 percent to 6.76 billion euros, compared with 7.08 billion euros, in the same period last year. At constant exchange, sales gained 1.3 percent.
“We're very pleased with the growing results posted in key countries and across all channels in this quarter,” said Leonardo Del Vecchio, executive chairman of Luxottica....

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