Luxottica Reports “Sharp Retail Gains” and Profits

This week Luxottica reported sales and profits for its third quarter.  It would seem from the results that the Company is encouraged and more enthusiastic about the U.S. market.  Is this an indication of good things to come for other U.S. optical retailers?

Citing the return of sales in the premium segment over the past few months and much improved comp increases in its LensCrafters and Sunglass Hut retail stores in the U.S. and Europe, Luxottica reported sharp increases in overall profitability and sales for the third fiscal quarter.  The company’s overall net retail income grew by 13.5 percent to €129.3 million for the quarter.   In statements to analysts today, Luxottica CEO Andrea Guerra, “We are back with high, double-digit, high teen growth in our premium area.  

Noting the stronger U.S. retail and wholesale performance for the 2010 third quarter, compared to the tougher performance period a year ago, Luxottica said its total U.S. retail sales grew 8.5 percent year-on-year to reach $1.26 billion for the third quarter, with LensCrafters seeing an 8.4 percent comp store increase for the period and Sunglass Hut experiencing a 12.5 percent comp sales gain. While the company did not break out Pearle Vision sales, in response to a question from an analyst, Guerra said “profitability” at Pearle was “up.” For the nine months of the year, Luxottica’s retail sales reached 5.9 percent at constant exchange rates.

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About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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October 2010

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