UPDATE: Luxottica Posts Rise In Profit On Healthy Sales Growth
07 Mayo 2012 - 11:36AM
Noticias Dow Jones
Luxottica SpA (LUX) said Monday its net profit rose by 14% in
the first quarter as the eyewear giant posted strong revenue trends
around the globe and a 36% sales increase in key emerging
markets.
Luxottica said it had record net profit of EUR131 million in the
first three months of the year, compared to EUR115 million in the
same period last year.
That figure includes a EUR15 million non-recurring charge
related to reorganizing Luxottica's OPSM business in Australia.
Factoring that out, adjusted net profit rose 27% to EUR146 million,
the company said.
Analysts had an average forecast of EUR143 million in adjusted
net profit.
Luxottica said its adjusted earnings before interest, taxes,
depreciation and amortization rose 22% to EUR346 million as group
net sales rose 14.9% to EUR1.788 billion.
Apart from sky rocketing sales in emerging markets, Luxottica
posted an 8.5% gain in first-quarter North American sales, driven
by strong wholesale trends buoyed by the launch of the new Coach
Inc. (COH) brand.
Sales by Luxottica's retail channel, including U.S.-based
Sunglass Hut, rose by 16% to EUR1.06 billion, with a third of the
gain reflecting currency effects when translated into the euro,
according to the company.
At constant exchange rates, Luxottica's net sales rose 11.1% on
the year, much faster than the 6% to 7% annual revenue gains
luxury-goods makers should expect in 2012 according to a report
released Monday in Milan by Altagamma, a trade group.
Sales in Western Europe rose a more modest 6%. Both Ray-Ban and
Oakley, proprietary brands, posted double-digit sales gains, while
licensed luxury brands such as Burberry Plc (BRBY.LN), Tiffany
& Co. (TIF) and Prada SpA (1913.HK) had "solid results,"
Luxottica Chief Executive Andrea Guerra said.
The OPSM network posted a 9% gain in comparable store sales,
signaling a turnaround of that business area.
"We look towards the rest of the year with optimism" despite the
difficult environment in southern Europe, Guerra added.
Luxottica has been expanding in Latin America, notably with
recent acquisitions of transnational retailer GMO and Brazil's
Tecnol, which together contributed EUR40 million in sales during
the first period.
Company Web site: http://www.luxottica.com
-By Christopher Emsden, Dow Jones Newswires; +39 06 6976 6920;
chris.emsden@dowjones.com
Order free Annual Report for Coach, Inc.
Visit http://djnweurope.ar.wilink.com/?ticker=US1897541041 or
call +44 (0)208 391 6028
Order free Annual Report for Luxottica Group SpA
Visit http://djnweurope.ar.wilink.com/?ticker=US55068R2022 or
call +44 (0)208 391 6028
Order free Annual Report for Tiffany & Co.
Visit http://djnweurope.ar.wilink.com/?ticker=US8865471085 or
call +44 (0)208 391 6028
Tapestry (NYSE:TPR)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Tapestry (NYSE:TPR)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024