LUX » Topics » 7. SEGMENTS AND RELATED INFORMATION

This excerpt taken from the LUX 6-K filed Jun 26, 2009.

7.  SEGMENTS AND RELATED INFORMATION

        The Group operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Group's management for the purpose of evaluating the Group's performance and for making decisions about future allocations of resources.

        Following several changes over recent years within Luxottica Group's organizational structure described below, Management has decided, beginning in 2009, to use a different methodology to review the results of each segment for performance evaluation purposes. In particular, the main changes regarded:

    the recent integration of Oakley, which, on one hand, has increased significantly the volume of inter-company transactions from the Manufacturing and Wholesale to the Retail segment, but, on the other hand, has diminished the significance of those transactions for evaluating the performance of the Manufacturing and Wholesale segment;

    the increased use of full profitability measures (i.e. adding manufacturing profit to the retail profit) when making decisions regarding product and brand allocation within the Retail Distribution segment.

        Therefore it is the opinion of Management that, for 2009, the prior method for reporting disaggregated information by business segment could not be fully aligned with the current way used to review the information. Accordingly, in 2009 and in compliance with SFAS 131 requirements, the Segment Reporting information will change as described below.

11



CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

This excerpt taken from the LUX 6-K filed Dec 15, 2008.

7.  SEGMENTS AND RELATED INFORMATION

        The Group operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Group's management for the purpose of evaluating the Group's performance and for making decisions about future allocations of resources.

        Commencing on January 1, 2008, both the manufacturing and wholesale distribution segment and the retail distribution segment data include the results of operations of Oakley Inc.'s ("Oakley") wholesale and retail businesses, respectively. Oakley was acquired by the Group on November 14, 2007.

        The "Inter-Segment Transactions and Corporate Adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for both the manufacturing and wholesale distribution and the retail distribution segments. Identifiable assets are those tangible and intangible assets used in

10



CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

This excerpt taken from the LUX 6-K filed Oct 1, 2008.

7.  SEGMENTS AND RELATED INFORMATION

        The Group operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Group's management for the purpose of evaluating the Group's performance and for making decisions about future allocations of resources.

        Commencing on January 1, 2008, both the manufacturing and wholesale distribution segment and the retail distribution segment data include the results of operations of Oakley Inc.'s ("Oakley") wholesale and retail businesses, respectively. Oakley was acquired by the Group on November 14, 2007.

        The "Inter-Segment Transactions and Corporate Adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for both the manufacturing and wholesale distribution and the retail distribution segments. Identifiable assets are those tangible and intangible assets used in

10


CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

This excerpt taken from the LUX 6-K filed Jun 30, 2008.

7.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        Commencing on January 1, 2008, both the manufacturing and wholesale distribution segment and retail distribution segment data include the results of operations of Oakley Inc.'s ("Oakley") wholesale and retail businesses, respectively. Oakley was acquired by the Company on November 14, 2007.

        The "Inter-Segment Transactions and Corporate Adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale distribution and retail distribution segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names.


(In thousands of Euro)
Three months ended
March 31,

  Manufacturing
And
Wholesale
Distribution

  Retail
Distribution

  Inter-Segment
Transactions and
Corporate
Adjustments

  Consolidated

2008                
Net sales   712,264   779,142   (92,702 ) 1,398,703
Income from Operations   172,765   67,305   (33,013 ) 207,057
Total assets   2,819,504   1,617,373   2,406,224   6,843,101
2007                
Net sales   548,498   833,562   (82,235 ) 1,299,825
Income from Operations   151,010   101,383   (28,268 ) 224,125
Total assets   2,132,553   1,411,723   1,772,349   5,316,625
2007 Pro forma(1)                
Net sales   675,418   868,410   (98,925 ) 1,444,904
Income from Operations   157,399   102,421   (34,944 ) 224,875

(1)
The unaudited pro forma net sales and income from operations financial information gives effect to the consummation of the Oakley acquisition as if the acquisition had occurred on January 1, 2007, using the

10


CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

This excerpt taken from the LUX 6-K filed Dec 21, 2007.

8.    SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        The "Inter-Segment Transactions and Corporate Adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names.


Nine months ended September 30,

  Manufacturing
And
Wholesale

  Retail

  Inter-Segment
Transactions
and
Corporate
Adjustments

  Consolidated

 
  (In thousands of Euro)


2007                
Net revenues   1,514,493   2,519,868   (256,807 ) 3,777,554
Operating income   418,017   303,035   (39,420 ) 681,632
Identifiable assets   2,093,057   1,418,938   1,637,288   5,149,282

2006(1)

 

 

 

 

 

 

 

 
Net revenues   1,301,533   2,524,996   (260,926 ) 3,565,603
Operating income   341,615   345,515   (96,068 ) 591,062
Identifiable assets   1,776,446   1,312,726   1,877,446   4,966,618


(1)
Results of Things Remembered, a former specialty gift business that was sold in September 2006, are reclassified as discontinued operations and are not included in results from continuing operations for 2006.
This excerpt taken from the LUX 6-K filed Jul 2, 2007.

8.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

10



        The "Inter-segment transactions and corporate adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names.


(In thousands of Euro)
Three months ended
March 31,

  Manufacturing
And
Wholesale

  Retail
  Inter-Segment
Transactions and
Corporate
Adjustments

  Consolidated

2007                
Net revenues   548,498   833,562   (82,235 ) 1,299,825
Operating income   151,010   101,383   (28,268 ) 224,125
Identifiable assets   2,132,553   1,411,723   1,772,349   5,316,625
2006(1)                
Net revenues   455,617   846,823   (84,517 ) 1,217,923
Operating income   118,433   116,896   (38,592 ) 196,737
Identifiable assets   1,717,330   1,295,981   2,012,705   5,026,016

(1)
Results of Things Remembered, Inc., a former subsidiary that was sold in September 2006, are reclassified as discontinued operations and are not included in results from continuing operations for 2006.
This excerpt taken from the LUX 6-K filed Dec 26, 2006.

9.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        The "Inter-segment transactions and corporate adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names.


(In thousands of Euro)
Nine months ended September 30,

  Manufacturing
And
Wholesale

  Retail
  Inter-Segment
Transactions
and Corporate
Adjustments

  Consolidated

2006                
Net revenues   1,301,533   2,524,996   (260,926 ) 3,565,603
Operating income   341,615   345,515   (96,068 ) 591,062
Identifiable assets   1,776,446   1,312,726   1,877,446   4,966,618

2005(1)

 

 

 

 

 

 

 

 
Net revenues   978,928   2,295,650   (175,576 ) 3,099,002
Operating income   231,310   274,797   (53,931 ) 452,176
Identifiable assets   1,591,005   1,213,261   2,064,259   4,868,526

(1)
Prior year amounts have been reclassified to exclude the operations and assets of the Things Remembered personalized gifts specialty retailer business, which was sold in September 2006.
This excerpt taken from the LUX 6-K filed Jun 29, 2006.

8.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        The "Inter-segment transactions and corporate adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names.


Three months ended March 31,

  Manufacturing
And
Wholesale

  Retail

  Inter-Segment
Transactions
and Corporate
Adjustments

  Consolidated

 
  (In thousands of Euro)


2006                
Net revenues   455,617   890,898   (84,517 ) 1,261,998
Operating income   118,433   112,142   (39,117 ) 191,458
Identifiable assets   1,717,330   1,380,586   1,928,099   5,026,016

2005

 

 

 

 

 

 

 

 
Net revenues   326,873   756,772   (46,644 ) 1,037,001
Operating income   77,743   76,496   (17,791 ) 136,448
Identifiable assets   1,576,238   1,146,932   2,017,862   4,741,031
These excerpts taken from the LUX 6-K filed Dec 23, 2005.

9.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        The "Inter-segment transactions and corporate adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names (in thousands of Euro).


Nine months ended September 30,

  Manufacturing
And
Wholesale

  Retail

  Inter-Segment
Transactions
and Corporate
Adjustments

  Consolidated


2005                
Net revenues   978,928   2,448,596   (175,576 ) 3,251,948
Operating income   231,310   283,441   (57,651 ) 457,100
Identifiable assets   1,591,005   1,298,257   1,979,263   4,868,526

2004

 

 

 

 

 

 

 

 
Net revenues   836,964   1,609,614   (139,585 ) 2,306,993
Operating income   187,690   235,921   (35,323 ) 388,288
Identifiable assets   1,507,135   877,534   1,776,603   4,161,272

9.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        The "Inter-segment transactions and corporate adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names (in thousands of Euro).


Nine months ended September 30,

  Manufacturing
And
Wholesale

  Retail

  Inter-Segment
Transactions
and Corporate
Adjustments

  Consolidated


2005                
Net revenues   978,928   2,448,596   (175,576 ) 3,251,948
Operating income   231,310   283,441   (57,651 ) 457,100
Identifiable assets   1,591,005   1,298,257   1,979,263   4,868,526

2004

 

 

 

 

 

 

 

 
Net revenues   836,964   1,609,614   (139,585 ) 2,306,993
Operating income   187,690   235,921   (35,323 ) 388,288
Identifiable assets   1,507,135   877,534   1,776,603   4,161,272

This excerpt taken from the LUX 6-K filed Sep 29, 2005.

9.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        The "Inter-segment transactions and corporate adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each

12



segment. Corporate identifiable assets are principally cash, goodwill and trade names (in thousands of Euro).


Six months ended June 30,

  Manufacturing
And
Wholesale

  Retail
  Inter-Segment
Transactions
and Corporate
Adjustments

  Consolidated

2005                
Net revenues   695,195   1,599,638   (112,266 ) 2,182,567
Operating income   168,031   177,121   (42,980 ) 302,172
Identifiable assets   1,670,142   1,263,055   2,055,057   4,988,253

2004

 

 

 

 

 

 

 

 
Net revenues   611,799   1,062,700   (93,669 ) 1,580,830
Operating income   140,470   143,515   (24,749 ) 259,237
Identifiable assets   1,596,227   893,554   1,473,814   3,963,594
These excerpts taken from the LUX 6-K filed Jun 27, 2005.

9.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        The "Inter-segment transactions and corporate adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names. (Thousands of Euro)


Quarter ended March 31,

  Manufacturing
And
Wholesale

  Retail

  Inter-Segment
Transactions
and Corporate
Adjustments

  Consolidated


2005                
Net revenues   326,873   756,772   (46,644 ) 1,037,001
Operating income   77,743   76,496   (17,791 ) 136,448
Identifiable assets   1,576,238   1,146,932   2,017,862   4,741,031

2004

 

 

 

 

 

 

 

 
Net revenues   298,730   513,329   (42,941 ) 769,118
Operating income   68,002   64,008   (11,900 ) 120,110
Identifiable assets   1,559,702   892,679   1,530,653   3,983,034

9.  SEGMENTS AND RELATED INFORMATION

        The Company operates in two industry segments: (1) manufacturing and wholesale distribution and (2) retail distribution.

        The following tables summarize the segmental information deemed essential by the Company's management for the purpose of evaluating the Company's performance and for making decisions about future allocations of resources.

        The "Inter-segment transactions and corporate adjustments" column includes the elimination of inter-segment activities and corporate-related expenses not allocated to reportable segments. This has the effect of increasing reportable operating profit for the manufacturing and wholesale and retail segments. Identifiable assets are those tangible and intangible assets used in operations in each segment. Corporate identifiable assets are principally cash, goodwill and trade names. (Thousands of Euro)


Quarter ended March 31,

  Manufacturing
And
Wholesale

  Retail

  Inter-Segment
Transactions
and Corporate
Adjustments

  Consolidated


2005                
Net revenues   326,873   756,772   (46,644 ) 1,037,001
Operating income   77,743   76,496   (17,791 ) 136,448
Identifiable assets   1,576,238   1,146,932   2,017,862   4,741,031

2004

 

 

 

 

 

 

 

 
Net revenues   298,730   513,329   (42,941 ) 769,118
Operating income   68,002   64,008   (11,900 ) 120,110
Identifiable assets   1,559,702   892,679   1,530,653   3,983,034
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki