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Details on Industry Insight.
I’m catching up on the third quarter earnings released last week by Luxottica, the parent company of Oakley, Sunglass Hut and many other brands and retail chains.
In its investor presentation, the company provided some details about Oakley’s performance during the quarter.
Overall, Oakley’s sales rose double digits globally, with an 8% increase in wholesale sales in North America in U.S. dollars. In Europe, Oakley sales rose double digits.
Oakley retail comps in North America jumped 11.4%.
Sunglass Hut, the major sunglass retail player globally, recorded an 8.8% increase in retail comps overall. In the U.S., Sunglass Hut comps rose 8.4%.
Overall, Luxottica net sales rose 6.7% in constant currency to EUR 1.8 billion. Net income rose 30.6% to EUR 138.6 million.
Luxottica recorded high, single-digit sales growth in Europe. Sales in Spain turned positive, while sales in Italy were nearly flat, the company said.
Business was strong in Continental and Northern Europe, with France, Germany, the UK and the Nordics up double digits.