This excerpt taken from the LUX 6-K filed Nov 2, 2009.
The positive reception by the markets of new collections, in particular Ray-Ban Tech and Oakleys Jawbone, together with the ongoing success of the STARS program and substantially the end of inventory reductions by clients in many markets, enabled the Group to post sales results for the quarter in line with last years performance. Wholesale sales for the quarter were Euro 429.5 million, compared with Euro 429.8 million for last years same period (down by 0.1% at current exchange rates, by 0.3% at constant exchange rates).
When looking at sales by geography, during the quarter Luxottica enjoyed a positive performance in Europe and emerging markets. In North America, sales were substantially in line with the previous year, while in Japan and Eastern Europe the trend remained negative.
Operating income for the Wholesale Division for the quarter was Euro 62.0 million (a decrease of 11.4% from operating income of Euro 70.0 million for the comparable quarter last year). Operating margin for the quarter was 14.4%, compared with 16.3% for the third quarter of 2008.
This excerpt taken from the LUX 6-K filed Jul 30, 2009.
Speed and flexibility in new product launches, together with the success of the STARS program, the markets positive reception of the new collections and a substantial decline in inventory reductions by clients in many markets, enabled the Group to keep net sales at the Wholesale Division generally in line with the previous year. Net sales for the Division during the quarter were Euro 576.3 million from Euro 583.4 million for the second quarter of 2008 (down by 1.2% at current exchange rates and by 3% at constant exchange rates).
Looking at the sales performance of the Division by geography, Luxottica did well in Europe and key emerging markets, while in the United States results were positive in June. Japan, on the other hand, was negative and so were results in emerging markets affected by the decline in the tourism industry.
Operating income for the quarter was Euro 129.8 million (down by 12.1%, from Euro 147.7 million for the second quarter of 2008). Operating margin for the quarter was 22.5%, compared with 25.3% for the same quarter last year.
Luxottica also secured a ten-year extension to the license agreement with Gianni Versace SpA for the design, manufacturing and worldwide distribution of optical frames and sunglasses under the Versace and Versus eyewear brands.
This excerpt taken from the LUX 6-K filed May 11, 2009.
The positive sales performance in all markets by Oakley and the success of Ray-Bans optical collections only enabled the Group to partially offset the effects of the challenging macro-economic environment, which triggered strong measures by clients to cut inventory levels. Wholesale sales for the period were Euro 501.6 million, compared to Euro 619.6 million (down by 19.0% at current exchange rates and by 19.8% at constant exchange rates). Regarding sales in key geographical regions, Luxotticas performance was substantially positive in Continental Europe and South America, while sales were down in Southern Europe, North America and the Far East.
In March and April, wholesale orders trended positively, reflecting recovery in Europe. May, June and July will be key months for determining the trend for the year.
Operating income for the Wholesale Division was Euro 105.3 million for the first quarter of 2009, (down by 32.8% from Euro 156.7 million for the first quarter of 2008, in which the performance of the division was particularly strong, while still representing an improvement over the final two quarters of last year. The Wholesale Divisions operating margin was 21.0% for the quarter, compared to 25.3% for the first quarter in 2008.
This excerpt taken from the LUX 6-K filed Feb 6, 2009.
For the full year, the Wholesale Division posted sales to third parties of Euro 2,092.5 million, compared with Euro 1,703.7 million for 2007 (up by 22.8% at current exchange rates and by 26.7% at constant exchange rates), with growth due almost entirely to the inclusion of Oakley sales. Pro forma sales(2) to third parties for the year rose by 1.3% at constant exchange rates.
Regarding the sales performance by geographic region, in 2008 Luxottica saw positive results in Continental Europe, emerging markets and North America. Over the same period, the Group experienced a slowdown in Southern Europe and Japan.
The latter part of the fourth quarter was characterized by a weakened economy in many geographic regions and massive reductions by clients in their inventories, resulting in a contraction in the results of the Wholesale Division. At the same time, the turnaround in the Euro/dollar exchange rate for the period impacted sales positively.
Sales to third parties for the fourth quarter increased to Euro 459.7 million, from Euro 446.1 million for the same quarter last year (up by 3.1% at current exchange rates and by 2.2% at constant exchange rates). Pro forma sales(2) to third parties, on the other hand, declined by 8.3% at constant exchange rates.
This excerpt taken from the LUX 6-K filed Oct 29, 2008.
Good sales performance by Oakley across all markets, together with the ongoing success of the Ray-Ban brand, enabled the Group to weather the effect of the international situation. Sales to third parties in this segment increased to 429.8 million in third quarter 2008 from 312.7 million in third quarter 2007 (up 37.5% at current rates and 43% at constant exchange rates); pro forma(5) sales to third parties, on the other hand, fell 0.7% at constant rates. Regarding sales on a geographical basis, Luxottica saw very good results in continental Europe and emerging economies, with marked growth in Brazil, India and Southeast Asia, while sales were down in certain Mediterranean countries of Europe and in Japan.
Over the period, the Group promoted initiatives aimed at strengthening relationships with its main clients and at improved positioning of its products. As an example, we organized a major event, the Luxottica Brand Show, in September, at which over 900 independent opticians worldwide were given previews of the Groups new collections.
The wholesale divisions operating income rose to 105.1 million (compared to 102.3 million in third quarter 2007, up 2.8%). The pro forma(5) operating margin dropped to 20.1% in third quarter 2008 from 22.8% in third quarter 2007. The change reflects charges relating to the integration of Oakley (8 million for the quarter) and exchange rates (reducing the divisions operating margin by 130bps).
This excerpt taken from the LUX 6-K filed Jul 31, 2007.
The second quarter of the year was the ninth consecutive quarter of double-digit growth for the wholesale division, reflecting the strength of the Groups business in this segment. Ray-Ban posted yet another quarter of double-digit growth, and the performances of the Bvlgari, Chanel, Dolce&Gabbana, Prada and Versace luxury brands were similarly positive. During the quarter, the Group concluded the first phase of the launch of the new Polo Ralph Lauren license. Total wholesale sales in emerging markets for the quarter rose year-over-year by over 50 percent. Wholesale sales to third parties for the quarter, a key measure of the Groups wholesale business, rose year-over-year by 23.5 percent, while wholesale operating margin rose year-over-year by an additional 100 bps, reaching an all-time high of 28.8 percent.
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