We are upgrading the system that runs our site. If you are having trouble seeing stories, or with your Executive login, clearing your web browser cache may help. If you continue to have issues, please email me at email@example.com. We greatly appreciate your patience during this process.
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.
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%
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.
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.