Luxottica as well suffers from strong euro

november 5, 2013

Post image for Luxottica as well suffers from strong euro

In the third quarter of this year Luxottica realized sales almost equal to that in the same period of last year. The lack of growth was partly due to negative currency effects. At constant exchange rates increase in the third quarter would have been 7,4%. Sales increased with 3,9% in the first nine months of this year. This would have 7,5% at constant exchange rates. The wholesale division did better as the own retail stores with an exception for Sunglass Hut which continued its good performance. The good Summer in Europe had a positive effect on the sales. The growth in quite some European countries including Germany, France and the Nordic countries is quite remarkable anyway and seems to show an opposite trend as what GFK reported earlier in a survey handed out at SILMO. GFK reported a significant decrease in sales of licensed brands in favour of authentic optical and designer brands. Maybe GFK should define its definition of both categories better. However, Luxottica’s growth in European countries could also mean it gains marketshare from direct competitors such as Safilo.

Be Sociable, Share!

Previous post:

Next post: