EssilorLuxottica: withdraws 2020 outlook
(CercleFinance.com) - Eyewear specialist EssilorLuxottica announces the withdrawal of its outlook for 2020 given the Covid-19 pandemic, expecting that sales will continue to slow down in the second quarter,, with a significant impact on profitability.
The group and its two operational subsidiaries are implementing corrective measures to control costs and cash, including the suspension of non-essential investments and the adjustment of overall production capacities to current demand.
To date, Essilor has temporarily closed all of its industrial sites in France, while Luxottica's factories have temporarily suspended their activity in Italy and other less significant locations, while they have returned to normal levels in China.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The group and its two operational subsidiaries are implementing corrective measures to control costs and cash, including the suspension of non-essential investments and the adjustment of overall production capacities to current demand.
To date, Essilor has temporarily closed all of its industrial sites in France, while Luxottica's factories have temporarily suspended their activity in Italy and other less significant locations, while they have returned to normal levels in China.
Copyright (c) 2020 CercleFinance.com. All rights reserved.