ROTH investor conference is Sunday - Wednesday. Implications of a new tax on some high net-wealth individuals from Moss Adams Capital. "The Legacy of Bing," next up at SHACC. Details on Industry Insight.
Sales and earnings improved in the fourth quarter for Luxottica, the parent company of Oakley, Ray-Ban and a multitude of other brands.
The company released preliminary results yesterday, and will release more details on Feb. 28.
The U.S. market showed particular strength in the fourth quarter, with sales rising 9% in U.S. dollars.
The company’s Sunglass Hut chain also recorded improved results, with same store sales rising 18% in the U.S.
Net sales: €1.3 billion. Up 6.5% in constant currency, up 16.4% in reported currency.
Wholesale revenue: €513.5 million. Up 7.4% in constant currency, up 14.4% in reported currency. Within the wholesale channel, sales rose 19.7% in North America, 5.4% in Europe, and 17.5% in Emerging markets.
Retail revenue: €833 million. Up 5.9% in constant currency, up 17.6% in reported currency.
Net sales: €5.8 billion. Up 7.1% in constant currency, up 13.8% in reported currency.
Net income: €400 million. Up 35%.
Orders books in the wholesales division are up double digits, the company said.