Luxottica Group S.p.A., which recently reached an agreement to acquire
Oakley Inc., saw Q2 sales increase 8.1% to 1.33 billion ($1.79 bn).
Excluding the impact of currency exchange rates, sales increased 12.8%.
The revenue gains for the Milan-based company were led by its wholesale
businesses, where sales jumped 17.5% to 571.3 million ($769.8 mm) or
20.5% currency-neutral. Total retail sales – including
Lenscrafters and Sunglass Hut – increased 1.0% to 848.0 million ($1.14
bn), or increased 6.7% in currency-neutral terms. Retail comparable
store sales improved 1.5% in the quarter.
Regarding the Sunglass Hut chain, comparable stores grew 3.1% in North
America, made up by a “very good May, a very good June, and a very bad
April,” Andrea Guerra, chief executive officer of Luxottica Group, said
on a conference call. Consolidated net income grew 32.9% to 154.6
million ($208.3 mm) or 0.34 per share ($0.46).
