Luxottica Group, the parent of Ray-Ban, Oakley and Sunglass Hut, reported earnings in 2016 rose 5.8 percent to €851 million on a 2.8 percent revenue gain, to €1.34 billion
On a currency-neutral basis, sales rose 3.9 percent and earnings rose 7.6 percent.
On an adjusted basis, sales rose 0.8 percent to €9,09 billion and gained 1.9 percent at constant exchange rates. Adjusted net income to €882 million, up 5.0 percent at constant exchange rates2 and ahead 3.3 percent at current exchange rates.
The adjusted data for the twelve-month period ended December 31, 2016 take into account: (i) restructuring and reorganization costs of €69.5 million (€55.0 million net of taxes); (ii) non-recurring expenses of €17.4 million (€12.0 million net of taxes) related to the departure of Adil Mehboob-Khan as CEO for markets and the Oakley integration; and (iii) non-recurring income of Euro 35.7 million related to the acquisition of Salmoiraghi & Viganò.
Luxottica is manufacturer of fashion, luxury and sports eyewear. Its portfolio includes proprietary brands such as Ray-Ban, Oakley, Vogue Eyewear, Persol, Oliver Peoples and Alain Mikli, as well as licensed brands including Giorgio Armani, Burberry, Bulgari, Chanel, Coach, Dolce&Gabbana, Michael Kors, Prada, Ralph Lauren, Tiffany & Co., Valentino and Versace. The Group’s global wholesale distribution network covers more than 150 countries and is complemented by a retail network of approximately 8,000 stores, with LensCrafters and Pearle Vision in North America, OPSM and LensCrafters in Asia-Pacific, GMO in Latin America, Salmoiraghi & Viganò in Italy and Sunglass Hut worldwide.
Photo courtesy Oakley
