Sponsors
Billabong ▼ -0.005 | PPR ▲ +1.20 | American Apparel ▲ +0.07 | The Buckle ▲ +0.54 | Columbia ▲ +0.52 | Deckers Outdoor ▼ -1.07 | Dicks ▼ -0.85 | Foot Locker ▲ +0.80 | Genesco ▲ +0.63 | Iconix Brand Group ▲ +0.59 | Jarden Corp ▲ +0.09 | Nordstrom ▲ +0.42 | Luxottica ▼ -0.35 | Nike ▲ +1.09 | Pacific Sunwear ▲ +0.05 | Skullcandy ▲ +0.06 | Sport Chalet - 0 | Urban Outfitters ▲ +0.47 | VF Corp ▲ +0.68 | Quiksilver ▼ -0.11 | Zumiez ▲ +0.39 | Macys ▲ +0.87 | Tillys ▲ +0.12 |
Ticker Sponsor
Readers Say
Executive Edition rules
Executive Edition rules

“Shop-Eat-Surf” is now officially, the first stop in the morning for industry news. Accurate reporting, no sensationalism, and just the facts. Refreshing support to an incredible industry with a very bright future. Tiffany has cemented her role in the industry....the site is thought provoking, and inspirational. Learning the stories of others is incredibly useful. Great way to connect the retail community with the wholesale and financial, instantly and nationwide. ... And the Executive Edition rules.

- By Bob Hurley, Chairman, Hurley International
I require all our executives to read it
I require all our executives to read it

There is no better publication that I am aware of that is so accurate and on top of any news and developments in our industry. I personally recommend it to many people that want to know and understand more about our industry. For the most part, shop-eat-surf.com gets the stories first. As a matter of fact, I require all the executives in our company to read it.

- By Hezy Shaked, President & CEO, Tilly's
Industry Insight

AGENDA: GroupY's Emerge brand-building conference returns on Jan. 6.
SURFRIDER: "Protect What You Love" holiday appeal.
MOSS ADAMS: Plan now for tax season.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Oakley, Ray-Ban growing sales in recession

By Tiffany Montgomery
August 07, 2009 7:04 AM

I missed Luxottica's second quarter earnings release last week, but think there are several interesting nuggets worth noting.

Luxottica CEO Andrea Guerra was pleased with the company's second quarter performance and gave a lot of credit to its Oakley and Ray-Ban brands.

"These results were made possible by Luxottica's well-balanced brand portfolio and especially by the performance of Ray-Ban and Oakley," he said in a press release. "The two brands posted growth in sales in both the sun and optical businesses for the quarter but also for the trailing twelve months, which was the most difficult portion of the global economic downturn."

Guerra also had interesting comments about the economic climate around the world.

"... The current fiscal year saw an extremely difficult January and February, with a stabilization of the market in the following months. The most acute phase of global economic restructuring probably took place between September 2008 and March 2009, while today the environment is less uncertain albeit certainly still challenging.

"There are considerable differences between geographic regions: North America is still negative but now more stable than during the first few months of the year; Europe is improving, thanks above all to good weather; and key emerging markets continue to be positive overall."

Financial results

Total Q2 sales: Euro 1,401.6 million, up by 3.5 percent at current exchange rates, down by 3.3 percent at constant exchange rates.

Net income: Euro 115.7 million, down 12.7 percent from Euro 132.6 million last year.

Total retail sales

Euro 825.3 million, up by 7 percent at current exchange rates, down by 3.4 percent at constant exchange rates.

Sunglass Hut

Comp store sales down 9 percent. Sales were strong in Australia, New Zealand, South Africa and the UK but negative in North America.

Wholesale sales

Euro 576.3 million, down by 1.2 percent at current exchange rates and by 3 percent at constant exchange rates.

Sales were strong in Europe and emerging markets. In the U.S., results were positive in June. Japan was negative and so were sales in emerging markets due to the decline in the tourism industry.

 


Articles You Might Have Missed