Luxottica Q2 profit soars on higher sales, raises outlook for FY '06
27 Jul '06
5 min read
In the retail business, the Group enjoyed another quarter of particularly strong results, especially from operations in North America, with overall performance and comparable store sales growth rates above those of the premium retail sector in that market. LensCrafters posted another above-average quarter, while Sunglass Hut's comparable store sales rose by over 11%. Similarly, Pearle Vision posted its third consecutive quarter of growth, with comparable store sales up to mid single-digits and further improvements in profitability. In Asia-Pacific, the Group's optical business continued to be the main driver. Overall, operating profitability for the Group's retail operations rose by 200 basis points to 13.9% for the quarter, and by 220 basis points to 13.3% for the year-to-date period.
Results for the quarter and the year-to-date period reflect the impact of non-cash expenses for stock options (6) of €11 million and €21 million, respectively, compared with no such impact for the first two quarters of 2005.
Luxottica Group's consolidated results for the second quarter and first half of 2006 were approved today by its Board of Directors.
Luxottica Group is a global leader in eyewear, with nearly 5,700 optical and sun retail stores in North America, Asia-Pacific, China and Europe and a strong brand portfolio that includes Ray-Ban, the best selling sun and prescription eyewear brand in the world, as well as, among others, license brands Bvlgari, Burberry, Chanel, Dolce & Gabbana, Donna Karan, Prada, Versace and Polo Ralph Lauren, beginning January 2007, and key house brands Vogue, Persol, Arnette and REVO.
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