Luxottica sPa, the parent of Oakley and Sunglass Hut, reported consolidated sales were €1.22 billion ($1.74 billion) for the third quarter of 2009, down 4.3% from €1.21 billion ($1.83 billion) in the prior year’s third quarter.
Consolidated net income for the third quarter was €83.1 million ($118.8 million), compared with €104.6 million ($157.6 million) for the same period last year and reflecting a decline of 24.6%.
In a conference call with analysts, company management said the retail side is improving, with Sunglass Hut posting overall comps down 5.6% for the third quarter, with positive performances in Australia and New Zealand, South Africa and the U.K., but a negative performance again in North America.
Overall retail sales for Luxottica were €793.8 million ($1.13 billion) down 3.7% from €782.2 million ($1.18 billion) in the previous year.
For the wholesales division, the Ray-Ban Tech and Oakley Jawbone lines boosted results slightly, but sales fell 5.1% in U.S. dollar terms to €429.8 million ($614.3 million) from €429.5 million ($647.1) last year.
When looking at sales by geography, during the quarter Luxottica enjoyed a positive performance in Europe and emerging markets. In North America, sales were substantially in line with the previous year, while in Japan and Eastern Europe the trend remained negative.
When looking at sales by geography, during the quarter Luxottica enjoyed a positive performance in Europe and emerging markets. In North America, sales were substantially in line with the previous year, while in Japan and Eastern Europe the trend remained negative.
