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This excerpt taken from the LUX 6-K filed Nov 2, 2009. Retail Division Retail sales for the quarter rose to Euro 793.8 million, from Euro 782.2 million for the comparable quarter last year (up by 1.5% at current exchange rates, down by 2.1% at constant exchange rates). Operating income for the quarter was Euro 114.0 million, compared with Euro 138.3 million for the same quarter last year reflecting a decline of 17.6%. As a result, operating margin for the Division for the quarter was 14.4%, compared with 17.7% for the same quarter last year.
In terms of comparable sales(3) performance, the prescription segment in North America saw a slight decline by 1.7% despite particularly good results at Sears Optical and Target Optical (+16.0%, combined) and an appreciable recovery by Pearle Vision (now +0.3%).
Comparable sales(3) performance for the quarter in the Asia-Pacific region was substantially stable year-over-year.
Sunglass Hut, the sun specialty chain with a global presence, posted overall comparable sales(3) for the quarter down year-over-year by 5.6%, with very positive performance in Australia and New Zealand, South Africa and the UK, but a negative performance again in North America though continuing to improve.
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Results for the third quarter and the nine months of 2009 will be discussed today in a conference call with the financial community starting at 6 PM CET. The audio portion and related presentation will be available to all via live webcast at www.luxottica.com.
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Today’s Ordinary Meeting of Shareholders approved a cash dividend payment of Euro 0.22 per ordinary share. The total dividend payment will thus be over Euro 100 million. Based on the timetable established by Borsa Italiana, the dividend will be paid to holders of ordinary shares on November 26, 2009 (ex-dividend date of November 23, 2009). Deutsche Bank Trust Company Americas, the Depositary Bank of Luxottica Group’s ordinary shares represented by American Depositary Receipts (ADRs), will pay the dividend in U.S. dollars to ADR holders on December 4, 2009 at the Euro/U.S. dollar exchange rate as of November 27, 2009. The ex-dividend date for holders of both ordinary shares and ADRs will be November 23, 2009.
The Meeting also approved a new authorization to buy back and subsequently dispose of up to a maximum of 18,500,000 ordinary shares in the Company, currently representing 3.99% of the share capital, for a maximum value of Euro 370 million. The authorization for this buyback is valid for a period of 18 months.
Lastly, the Meeting approved the appointment of Giorgio Silva as an alternate statutory auditor following the premature passing of Mario Magenes.
The officer responsible for preparing the company’s financial reports, Enrico Cavatorta, declares that, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, the accounting information contained in this press release corresponds to the document results, books and accounting records.
This excerpt taken from the LUX 6-K filed Jul 30, 2009. Retail Division
Net sales for the quarter at the Retail Division rose to Euro 825.3 million, from Euro 771.1 million in the second quarter of 2008 (up by 7.0% at current exchange rates, down by 3.4% at constant exchange rates). The Division’s operating income for the quarter, on the other hand, was Euro 115.9 million, compared with Euro 119.6 million for last year’s second quarter (down by 3.0%). Operating margin declined to 14.0% for the quarter, from 15.5% in the same period last year.
In terms of comparable store sales(3), for the second quarter the optical business in North America declined by 8.5%, notwithstanding good results at Sears Optical and Target Optical (up by 2.2%). It should be noted that EyeMed’s Managed Vision Care business posted excellent results, with sales up by 18.5% during the quarter. Comparable store sales(3) in Asia-Pacific for the quarter were down by 3.4%.
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Sunglass Hut, the Group’s sun specialty chain that operates globally, reported overall comparable store sales(3) for the quarter down by 9%, with performance very positive in Australia, New Zealand, South Africa and the UK but still negative in North America.
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In conclusion, the Board of Directors authorized, as proposed by the Chairman of the Internal Control Committee, an increase in the number of members of said Committee to four, from three. Ivanhoe Lo Bello, currently a non-executive and independent Luxottica Group Board member, has been appointed to this additional seat.
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The second quarter and first half results for 2009 will be presented today in a conference call with the financial community starting at 6:30 PM CET. The audio portion and related slide presentation will be available to all via live webcast at www.luxottica.com.
The officer responsible for preparing the company’s financial reports, Enrico Cavatorta, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.
This excerpt taken from the LUX 6-K filed May 11, 2009. Retail Division Sales for the Retail Division improved to Euro 810.8 million for the first quarter of 2009, from Euro 779.1 million for the same period in 2008 (up by 4.1% at current exchange rates, down by 5.0% at constant exchange rates). Thanks to cost control initiatives, the Retail Division’s operating income was substantially in line with the same quarter in the previous year (Euro 83.6 million compared to Euro 84.5 million for last year’s first quarter, reflecting a decline of 1.1%). Consequently, the Retail Division’s operating margin for the first quarter of 2009 declined to 10.3%, from 10.8% for the first quarter of 2008.
In terms of comparable store sales(3), the optical business in North America saw a decline (by 4.6%) during the first quarter of 2009, notwithstanding the excellent results by Pearle Vision, Sears Optical and Target Optical. In Australia, the trend in comparable store sales(3) was positive once again (up by 1.5%).
Sunglass Hut, the Group’s sun specialty chain that operates across several geographic regions, reported overall comparable store sales(3) down by 10.3% in the first quarter of 2009 compared to the same period last year, with highly positive trends in Australia and New Zealand, South Africa and the UK but again negative in North America.
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Results for the first quarter of 2009 will be discussed today in a conference call with the financial community starting at 6:30 PM CET. The audio portion and related slide presentation will be available to all via live webcast at www.luxottica.com.
The officer responsible for preparing the company’s financial reports, Enrico Cavatorta, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.
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This excerpt taken from the LUX 6-K filed Feb 6, 2009. Retail Division
For the year, retail sales declined to Euro 3,109.1 million, from Euro 3,262.3 million for fiscal year 2007 (down by 4.7% at current exchange rates, but up by 2.3% at constant exchange rates). Pro forma sales(2) fell 2.1% at constant exchange rates.
The decline in retail sales in North America was countered by a substantially strong performance in all other geographic regions. In North America, since the beginning of the year, the retail business experienced a strong contraction in traffic at its stores. As a result, comparable store sales(5) at LensCrafters and Pearle Vision declined by 6.5% for the year and by 11.5% for the fourth quarter. Comparable store sales(5) at the Licensed Brand chains were down by 9.1% for the year and by 9.7% for the fourth quarter.
With respect to the sun business, Sunglass Hut’s global comparable store sales(5) for the year were down by 4.9% and by 12.9% for the fourth quarter, with a marked difference between results in North America and in other regions where the chain operates. In Australia and New Zealand, for example, Sunglass Hut’s comparable store sales(5) were up by around 4.5% for the year and by 2.9% for the fourth quarter.
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This excerpt taken from the LUX 6-K filed Oct 29, 2008. Retail division
The retail division posted net sales of €782.2 million against €838.3 million in third quarter 2007 (down 6.7% at current exchange rates and +1.5% at constant exchange rates), while pro forma(5) net sales showed a decrease of 3.8% at constant exchange rates.
Since the beginning of the year, Luxottica implemented a number of activities aimed at counteracting the slowdown in North American consumer spending. Results are now tangible: despite a decrease in sales and operating results that decreased from €97.9 million in third quarter 2007 to €95.5 million in third quarter 2008 (down 2.5%), the division’s pro forma(5) operating margin was successfully turned around, to close 40 basis points higher at 12.2%. Such a performance underscores the Group’s ability to react quickly to adverse market conditions.
Comparable store sales(2) by LensCrafters and Pearle Vision saw an overall decrease of 6.6%. In particular, LensCrafters was impacted by decreased mall traffic in the US. Comparable store sales(2) of licensed brands, as in previous quarters, were weaker than those achieved by premium brands of the Group. In the “sun” segment, a weak September more than offset positive results posted by Sunglass Hut during July and August: third quarter 2008 comparable store sales(2) were therefore down by about 4%.
Outside the US, the retail division continued to grow and posted positive results in Australia, New Zealand, the Middle East, South Africa and the UK.
This excerpt taken from the LUX 6-K filed Jul 31, 2007. Retail Division In the second quarter, the retail division enjoyed a significant improvement in sales of +6.7 percent excluding the impact of exchange rates. This result reflects the focus of the Group on building a solid platform for the long-term growth of the retail business. During the course of the past twelve months the Group opened 395 new stores while adding 479 stores through acquisitions in the U.S., Canada, China, South Africa and Australia. Among these stores, 462 new and existing North American-based stores and 279 stores acquired in China, the U.S. and Canada were rebranded to one of Luxottica’s retail brands. | EXCERPTS ON THIS PAGE:
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