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Tiffany Montgomery
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Sales rebound at Sunglass Hut; Oakley posts strong quarter

By Tiffany Montgomery
May 04, 2010 5:55 AM

I’m catching up on Luxottica’s earnings from last week in which the company provided some details about Oakley’s performance in the quarter ended March 31.

Oakley’s sales rose “roughly 20%” in the quarter, Luxottica said.

Sales at Oakley stores were also strong.

Luxottica results

Net sales: up 7% to 1.4 billion Euros in constant currency.

Net income: up 20.8% to 95.1 million Euros.

Retail sales: up 5.6% to 838.2 Euros in constant currency. Comps at Sunglass Hut worldwide rose 8.1%.

In the U.S., Sunglass Hut comps rose 10.8%. South Africa and the UK also posted positive results, while Australia and New Zealand were negative.

Wholesale sales: up 9.1% in constant currency to 553.5 million Euros.

CEO Andrea Guerra is particuarly happy with the outlook in North America.

"I am absolutely positive about the next eight months in North America," Guerra said, according to a transcript of the conference call.

Luxottica Group has 6,300 optical and sunglass stores around the world and makes a large portfolio of sunglass brands including Ray-Ban, Oakley, Vogue, Persol, Oliver Peoples, Arnette and REVO, Burberry and Chanel.

 

 


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