Luxottica Group SpA said Q4 sales rose 7.1% 1.19 billion ($1.72 bn) when including 88 million in Oakley sales for the last six weeks of the year. Excluding the impact of currency fluctuation, sales were up 16.2% for the quarter. Excluding Oakley, wholesale sales rose 15.6% to 479 million ($708.8 mm), but rose 20.2% in constant exchange rates. Retail sales fell 7.2% to 714 million ($1.06 bn) excluding Oakley, but were up 2.8% at constant exchange rates. Comparable store sales declined 1.7% for Q4.
Sunglass Hut division comps worldwide were down 2.0% as a 2.6% increase in Sunglass Hut chain comps offset steep declines at Watch Station and Watch World.
For the year, consolidated sales grew 6.1% to 4.97 billion ($7.35 bn) including the Oakley numbers, and were up 12.6% at constant exchange rates. Excluding Oakley, retail sales for the year were down 1.8% to 3.23 billion ($4.79 bn), or up 5.6% excluding the effect of exchange rates. Retail comps were up 1.2%.
In a release, LUX said that the performance of the Retail division excluding Oakley was said to be “satisfactory,” but appeared to be concerned about the “continuous ups and down of sales in North America” and the impact of macroeconomic trends.
Total wholesale sales were up 16.2% to 1.99 billion ($2.95 bn), or 19.8% at constant exchange rates. Ray-Ban posted its fifth year in a row of double-digit sales growth. Sales of luxury brands, including Bulgari, Chanel, Dolce & Gabbana, Prada and Versace, were also strong.
In terms of regions, the North America market saw wholesale and retail revenues rise 6.1% in local currencies.
