Luxottica: 2017 was a good year, despite strong euro
(CercleFinance.com) - Luxottica shares are up over 1% this morning in a dull Milan Stock Exchange after the Italian eyewear company unveiled its annual sales, which accelerated, excluding FX factors.
Last year, Luxottica's net sales increased by 0.8% at current exchange rates, i.e. +2.2% at constant exchange rates, mainly thanks to retail sales (+3.4% at constant exchange rates).
Note acceleration at the end of the year: in Q4, although sales fell by 2.3% at current exchange rates, mainly because of the euro's strength, they rose 4.3% at constant exchange rates, with each segment (retail and wholesale) seeing sales rise by over 4%.
Luxottica, which is currently merging with the French group Essilor International, has therefore confirmed its financial forecasts for 2017, which should result in "a sharp rise in adjusted net income" and a record cash flow.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Last year, Luxottica's net sales increased by 0.8% at current exchange rates, i.e. +2.2% at constant exchange rates, mainly thanks to retail sales (+3.4% at constant exchange rates).
Note acceleration at the end of the year: in Q4, although sales fell by 2.3% at current exchange rates, mainly because of the euro's strength, they rose 4.3% at constant exchange rates, with each segment (retail and wholesale) seeing sales rise by over 4%.
Luxottica, which is currently merging with the French group Essilor International, has therefore confirmed its financial forecasts for 2017, which should result in "a sharp rise in adjusted net income" and a record cash flow.
Copyright (c) 2018 CercleFinance.com. All rights reserved.