Sunglass and prescription glasses sales continued to strengthen for Luxottica Group S.p.A., the parent company of Oakley, Ray-Ban, Sunglass Hut and a multitude of other sunglass brands and retailers.
Interesting trends include the continued rebound of premium and luxury brand sales and the relative strength in key territories, including the U.S. and Europe.
Third quarter results
Net sales: €1.5 billion. Up 8.6% in constant currency, up 19.7% in reported currency.
Net income: €$101.9 million. Up 34.5%
European revenue: up 12.7%
U.S. revenue in U.S. dollars: up 8.5%
Emerging market revenue: up 26.2%
Wholesale
Premium and luxury brand revenue: up 18%
Ray-Ban and Oakley revenue: up double digits. Optical sales for both brands strong.
Total wholesale revenue: € 518.3 million. Up 12.4% in constant currency, up 20.7% in reported currency.
Operating income: $94.9 million, up 53.8%
Operating margin: 18.3%, up from 14.4% in the same period last year, partly due to a better price point/product mix, the company said.
Retail
The U.S. was a strong performer in the retail division.
Total retail revenue: €946.5 million. Up 6.5% in constant currency, up 19.2% in reported currency.
Sunglass Hut global same store sales: up 9.6%
U.S. Sunglass Hut same store sales: up 12.5%
Australia: continues to be a tough retail market
Retail operating income: €129.3 million, up 13.5%
Operating margin: 13.7%, down from 14.3% the same period last year.
