This excerpt taken from the LUX 6-K filed Mar 7, 2007.
Detailed forecast for fiscal year 2007(1)
For the full year, the Group forecasts a growth in consolidated sales at constant exchange rates of between eight and ten percent, which would reflect a growth in EPS for the year of between 16 percent and 18 percent. At an average exchange rate of 1 = US$1.30, this would result in consolidated sales for fiscal year 2007(2) of between 4.9 billion and 5.0 billion and EPS for the period of between 1.07 and 1.09 (earnings per ADS of between US$1.39 and US$1.42).
The Group also expects that its Net Debt position will improve further from its December 31, 2006, levels. Fiscal year 2007 is expected to be another year of strong cash flow generation.
Andrea Guerra, Luxottica Groups chief executive officer, commented: Today we are leaders in an industry that is very quickly evolving: over recent years eyewear has evolved into a key fashion and luxury accessory, in fact one through which all of us express their personality; two-thirds of the worlds population has only recently entered our market and are already showing significant appreciation for our brands; and the aging of the population, in particular of baby boomers, is another important driver of growth in our sector. We believe that 2007 will be another record year for our Group, thanks mainly to ongoing investments in our store base for approximately 225 million, including the remodeling of an additional 480 stores worldwide as well over 500 new stores.