Google News

Luxottica’s Q2 net income up 30 per cent at €150 mn

Must Read

Luxottica Group, a global leader in the design, manufacture and distribution of fashion, luxury and sports eyewear, has reported net sales of €1.6 billion for the second quarter ended June 30, 2010.

The net income during the quarter reached €150 million, up 30.1 per cent from the €115.3 million for the corresponding quarter a year ago.

The group’s EBITDA stood at €335.4 million for the second quarter, up 22.2 per cent from the €274.5 million for the corresponding quarter in 2009. For the first half of the year, EBITDA grew to €578.0 million from the €501.5 million posted for the first half of 2009.

Operating income was €258.3 million for the second quarter, while for the first half of the year, operating income amounted to €429.6 million, up 20.2 per cent from the €357.5 million posted for the same period last year.

“We are particularly proud of the results achieved by Luxottica this quarter,” said Andrea Guerra, chief executive officer of Luxottica.

Stressing that the group has successfully invested in the right markets and embarked on actions that are resulting in very positive results, he said, “We have launched collections and special projects that have proven to be particularly well-received in the market and we have been able to achieve growth wherever we identified opportunities.”

In the second quarter of the year, Luxottica achieved positive performances in most geographic regions where it is present. The wholesale division recorded its best sales performance in the group’s history. Emerging markets made a key contribution to this performance, boasting an increase in wholesale sales by approximately 30 per cent compared to the same period last year, along with the US and Europe, which enjoyed a particularly positive ‘sun’ season.

– IndiaRetailing Bureau

Latest News

American home decor brand Pottery Barn Kids, now in India

Pottery Barn Kids, the American children’s furniture and décor brand's first flagship store in the country at the Jio...

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.