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Tiffany Montgomery
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Luxury, U.S., Europe strong for Luxottica

Luxury, U.S., Europe strong
By Tiffany Montgomery
October 25, 2010 9:27 AM

Sunglass and prescription glasses sales continued to strengthen for Luxottica Group S.p.A., the parent company of Oakley, Ray-Ban, Sunglass Hut and a multitude of other sunglass brands and retailers.

 

Interesting trends include the continued rebound of premium and luxury brand sales and the relative strength in key territories, including the U.S. and Europe.

 

Third quarter results

Net sales: €1.5 billion. Up 8.6% in constant currency, up 19.7% in reported currency.

 

Net income: €$101.9 million. Up 34.5%

 

European revenue: up 12.7%

 

U.S. revenue in U.S. dollars: up 8.5%

 

Emerging market revenue: up 26.2%

 

Wholesale

Premium and luxury brand revenue: up 18%

 

Ray-Ban and Oakley revenue: up double digits. Optical sales for both brands strong.

 

Total wholesale revenue: € 518.3 million. Up 12.4% in constant currency, up 20.7% in reported currency.

 

Operating income: $94.9 million, up 53.8%

 

Operating margin: 18.3%, up from 14.4% in the same period last year, partly due to a better price point/product mix, the company said.

 

Retail

The U.S. was a strong performer in the retail division.

 

Total retail revenue: €946.5 million. Up 6.5% in constant currency, up 19.2% in reported currency.

 

Sunglass Hut global same store sales: up 9.6%

 

U.S. Sunglass Hut same store sales: up 12.5%

 

Australia: continues to be a tough retail market

 

Retail operating income: €129.3 million, up 13.5%

 

Operating margin: 13.7%, down from 14.3% the same period last year.

 

 

 

 


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