Luxottica: solid and balanced growth in the first quarter of 2014

29 Apr 2014 - 05:52 PM

Net sales of Euro 1.8 billion (+4.2% at constant exchange rates2)
Europe continues to grow with net sales up 9.0%2,5


Wholesale Division’s net sales: up 7.9% at constant exchange rates2, solid and balanced growth

  • Europe exceeded expectations up 7.3% at constant exchange rates2,5
  • North America making continued progress up 7.0% in U.S. dollars
  • Emerging markets up 6.8% at constant exchange rates2,5, solid performance and excellent order portfolio
  • Ray-Ban and Oakley driving growth
  • Premium and luxury segment: positive start to the year

Retail Division’s net sales: accelerated growth since April, up 1.6% at constant exchange rates2

  • North America: one of the coldest and harshest winter of the last decade
  • Emerging markets: double-digit growth driven by China and Latin America
  • LensCrafters North America: still weak, but showing tangible signs of improvement
  • Sunglass Hut: net sales up 11.1% at constant exchange rates2,5 with an excellent start to the year in all markets


  • generally unfavorable exchange rates environment could continue in the second quarter
  • operating margin at 14.7% (+60 bps at constant exchange rates2)
  • net margin up 50 bps at constant exchange rates2
  • disciplined working capital management generated positive free cash flow3 of Euro 60 million

Entering the second quarter

  • excellent start of the key sun season with a solid and healthy portfolio of orders
  • commitment to shaping the future of the industry
  • acquisition of
  • strategic partnership with Google
  • new license agreement with Michael Kors

The Board of Directors of Luxottica Group S.p.A. (MTA: LUX; NYSE: LUX), a leader in the design, manufacture, distribution and sale of fashion, luxury and sports eyewear, met today and approved the consolidated results for the quarter ended March 31, 2014, in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IAS/IFRS).

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Last updated: Apr 29 2014