Luxottica Group S.p.A. reported accelerating comps at Sunglass Hut helped drive growth in its North America division in the third quarter.
The Italian eyewear company reported net sales In North America grew 22.8 percent to €1.36 billion in the third quarter ended Sept. 30, or 4.5 percent in currency-neutral (c-n) terms thanks in part to an acceleration in comps at Sunglass Hut.
The results pushed up North America's share of revenue at Luxottica to 62 percent compared with 58 percent in the third quarter of 2014.
Sales at the North American Wholesale Division grew 24.5 percent (7.0 percent c-n) to €265 million. In addition to owning Oakley and Ray-Ban, the division markets eyewear under dozens of licensed fashion brands to the department store, optical and luxury channels,
North American Retail sales grew 22.3 percent (3.9 percent -c-n) to €1.09 billion. At Sunglass Hut, comps growth accelerated to 7.8 percent compared to the first half of 2015, while LensCrafters' comps increased by 3.8 percent compared to the first half of 2015.
Third Quarter ended Sept. 30, 2015