Luxottica 3Q Sales Rise But Guidance Is Trimmed
October 22 2018 - 12:34PM
Dow Jones News
By Cristina Roca
Luxottica Group SpA (LUX.MI) said Monday that its third-quarter
sales rose but narrowed its full-year guidance.
The Milan-based company said it had sales of 2.22 billion euros
($2.55 billion) in the third quarter, compared to EUR2.15 billion
over the same period last year.
Luxottica, which owns the Ray-Ban, Persol and Oakley eyewear
brands, said its third-quarter sales were up 3.5% on a constant
exchange-rate basis. At current exchange rates, sales were up 2.9%
on year, the company said.
The Italian luxury eyewear company said it was confirming its
full-year outlook "in light of the positive trend in the retail and
e-commerce businesses and the return to growth of the wholesale
division," but that it now expects sales to grow by about 2% for
2018, compared to its previous expectation of between 2% and 4% at
constant exchange rates for the year.
Luxottica earlier this month said it had completed its merger
with French optical-lens manufacturer Essilor International SA,
which was agreed on January 2017, forming EssilorLuxottica SA
(EL.FR). A mandatory exchange offer for the remaining issued and
outstanding Luxottica shares will be launched soon, and Luxottica
will eventually be delisted. Essilor and Luxottica are reporting
sales results separately for the third quarter.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
October 22, 2018 12:19 ET (16:19 GMT)
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