Another record quarter for Luxottica

During the third quarter of 2015, Luxottica maintained its growth trajectory in key markets, in line with the trends experienced in the first half of the year. Solid demand for the latest sun collections in North America and Europe, Sunglass Hut and LensCrafters’ buoyant performance and the continued expansion in new markets were the biggest contributors in the quarter. Luxottica posted adjusted net sales year-to-date of approximately Euro 7 billion, representing a 19.7% increase on a year-over-year basis. Adjusted operating margin improved by 110 basis points, while adjusted net income grew by 29.7% to Euro 734 million. Strong free cash flow generation to approximately Euro 700 million during the past nine months, Euro 396 million generated solely in the third quarter, allows Luxottica to accelerate its investment plan and support future growth. “We expect the positive trend of organic growth to carry into 2016”, commented Adil Khan and Massimo Vian, Chief Executive Officers of Luxottica, “with earnings continuing to grow faster than sales. We confirm our objective of doubling sales over the next ten years”.