Segment information

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We operate in two industry segments:

  • Wholesale
  • Retail

In the first half of 2016, the Group delivered sales growth of 3.5% at constant exchange rates2 (+1.1% at current exchange rates). It also delivered growth of +1.6% on an adjusted3,5 basis at constant exchange rates2 (-0.7% at current exchange rates). Both segments contributed to the positive performance despite the impact of bad weather on sunglass sales in key western markets in the second quarter and the adoption of the Gregorian calendar by the retail business. The Group’s e-commerce contribution in the first half was strong with net sales up by 20% at constant exchange rates2.

During the second quarter of the year, the Group’s reported net sales rose by 3.2% and its adjusted3,5 net sales by 1.4% at constant exchange rates2 (-0.1% and -1.9% at current exchange rates, respectively), with the Wholesale division’s net sales substantially unchanged at constant exchange rates2 and the Retail division’s net sales up by 5.5% (+2.3% on an adjusted3,5 basis).

Segmental information - 1H 2016

KEY FIGURES IN THOUSANDS OF EUROMANUFACTURING AND WHOLESALERETAILINTER-SEGMENT TRANSACTIONS AND CORPORATE ADJ.CONSOLIDATED
2016
NET SALES 1,970,406 2,749,020   4,719,426
OPERATING INCOME 524,856 365,018 (101,798) 788,076
% OF SALES 26.6% 13.3%   16.7%
CAPITAL EXPENDITURES 147,246 137,461   284,707
DEPRECIATION AND AMORTIZATION 80,239 125,900 42,840 248,979
2015        
NET SALES 2,007,928 2,658,784   4,666,712
OPERATING INCOME 539,308 424,127 (104,906) 858,529
% OF SALES 26.9% 16.0%   18.4%
CAPITAL EXPENDITURES 83,920 132,965   216,886
DEPRECIATION AND AMORTIZATION 80,130 112,410 43,174 235,715

Retail comparable store sales (2)

 2Q 20161H 2016
Optical North America  
LensCrafters +0.5% +1.3%
Licensed brands +6.1% +3.7%
Australia/New Zealand +1.1% +2.7%
Sunglass Hut worldwide +1.7% +1.5%
Group Retail -0.3% +0.6% 

(2,3,5) For further information, please see the press release

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Last updated: Nov 28 2016