luxottica revenue 2020

Multiple digital initiatives rapidly transformed the Company's go-to- market strategy. OneSight also drove charitable impact by donating 70,000 pairs of glasses to people in need during the pandemic. The Retail division registered revenue down 8.3% (-4.6% at constant exchange rates1), with the number of open corporate retail locations going from 90% of the total at the beginning of the period to more than 95% at the end of the quarter. This strategy has created powerful impact in China with over 2,400 such access points being created to date. The breakdown of 2019 revenue has been restated following the integration of Costa into Luxottica’s brand portfolio. Notes 1 Constant exchange rates: figures at constant exchange rates have been calculated using the average exchange ratesin effect for the corresponding period in the previous year.2 Free Cash Flow: Net cash flow provided by operating activities less the sum of Purchase of property, plant and equipment and intangible assets and Cash payments for the principal portion of lease liabilities according to the IFRS consolidated statement of cash flow.3 Fast-growing/emerging countries or markets: China, India, South Asia, South Korea, Hong Kong, Taiwan, Africa, the Middle East, Russia, Eastern Europe and Latin America.4 Adjusted comparable store sales: reflect, for comparison purposes, the change in sales from one period to anotherby taking into account in the more recent period only those stores already open during the comparable prior period. Luxottica's shared value approach; People, the real driving force of Luxottica; The safety culture; The responsible management of the supply chain; Protecting The Environment. Under COVID-19, the integration process has gained momentum and benefitted from faster decisions. In Lenses & Optical instruments, the business benefitted from strong consumer demand for the Company’s flagship lens brands: Varilux in the progressive category, Crizal in anti-reflectives, Transitions GEN 8 in photochromics and Eyezen in anti-fatigue. Blue-cut lenses benefitted from intense screen usage in the new COVID-19 environment. Wholesale in Mexico and retail in Chile, Guatemala and Honduras followed a similar trend, with double-digit revenue declines in the quarter, hiding a return to growth in September after stores could reopen. In the US, FGX was still down year-on-year despite double-digit growth in e-commerce and good sell-through trends, especially in dollar stores, while department stores and travel retail continued to suffer. Developed markets returned to year-on-year revenue growth at constant exchange rates1 in the third quarter, driving the Company’s performance. Equipment revenue was flat year-on-year. Direct e-commerce continued to outperform, with revenue from mono-brand platforms up almost two thirds at constant exchange rates1, boosted by Ray-Ban.com, Oakley.com and SunglassHut.com, all mostly driven by sunglasses sales as well as helped by focused promotions. Revenues in all regions were down double digits over the first nine months of the year. This limited time offer for independent eye care practices will be available from July 1 through September 30, 2020. Argentina posted year-on-year revenue growth for the quarter as a whole. * The breakdown of 2019 revenue has been restated following the integration of Costa into Luxottica���s brand portfolio (see appendix). EssilorLuxottica : EssilorLuxottica announces organizational ��� Essilor posted revenue of ���1,162 million, down 40.9 percent from year ago. While it is careful about the near-term evolution of COVID-19 and about the amount of pent-up demand potentially fuelling the current recovery, it is confident about the structural resilience of optical needs. This was especially true in eye doctor alliances and with Essilor Experts. Sunglasses & Readers sales were down single digits during the quarter with strong direct e-commerce revenue. The Equipment division posted revenue down 14.9% (-11.7% at constant exchange rates1). These included the extended rollout of Smart Shopper and in-storetele-optometry. Charenton-le-Pont, France (November 3, 2020 – 7:00am) – EssilorLuxottica today announced that consolidated revenue for the third quarter of 2020 totalled Euro 4,085 million, representing a year-on-year decline of 5.2% (-1.1% at constant exchange rates1) and highlighting a strong sequential recovery compared to the second quarter of 2020. Post-lockdown conditions revealed the strong entrepreneurial spirit driving ECPs and their ability to adapt swiftly to the new business environment. 3Q 2020 Revenue 1 ESSILORLUXOTTICA 3Q 2020 REVENUE. After a challenging first half of the year, sunglasses sales started to fare better. Emerging markets3 were down year-on-year, with a magnitude reflecting their respective COVID-19 stage: sales in Latin America and India declined markedly year-on-year, while they were up materially in Greater China. STARS closed the quarter slightly above 16,700 doors (after 50 net additions in the period, mostly in the US and Brazil), posting 23% growth in revenue at constant exchange rates1 and representing approximately 18% of the division’s total business. * The geographical breakdown of 2019 revenue has been revised to reflect a reclassification of certain geographic markets, which the Group considers immaterial. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. To continue reading it, access the original document here. The positive performance at constant exchange rates1 reflected both the structural nature of vision needs, increased consumer awareness about eye care brought about by COVID-19 and an element of pent-up demand. The Lenses & Optical Instruments division declined by 14.4% at constant exchange rates1, a better performance than the Group average illustrating the structural resilience of optical needs. A conference call in English will be held today at 10:30 am CET.The meeting will be available live and may also be heard later at:https://channel.royalcast.com/essilorluxotticaen/#!/essilorluxotticaen/20201103_1. The COVID-19 crisis has turned out to be a clear catalyst for EssilorLuxottica to implement key decisions made just before the pandemic: to deepen its integration, simplify its organisation, accelerate its decision-making process, digitalise its business and transform the eyecare and eyewear industry while controlling costs and preserving cash. For the first nine months of 2020, consolidated revenue ��� In parallel, the Company leveraged its unique ability to engage with independent eye care professionals. * The breakdown of 2019 revenue has been restated following the integration of Costa into Luxottica���s brand portfolio (see appendix). a positive mix in all the main divisions, both in terms of products (consumers favoring. GMO also started to improve trends during the quarter, especially in Chile, while Sunglass Hut Mexico continued to struggle. Strong recovery driven by resilient optical business. Instruments sales were also back into positive territory in September as opticians were eager to start investing again to further improve consumer experience. Emerging markets3 were down year-on-year, with a magnitude reflecting their respective COVID-19 stage: sales in Latin America and India declined markedly year-on-year, while they were up materially in Greater China. Declining sales of new machines were offset by consumables and maintenance revenue. "We are pleased with the strong rebound that our Company delivered during the third quarter and proud of all of our employees who made this possible. On the other hand, Sunglass Hut suffered from its exposure to travellers, showing diverging adjusted comparable store sales4 between touristic and non-touristic locations and with the UK, Spain and France still in negative territory. With the second wave of COVID-19 leading to new lockdowns in Europe, our priority remains the protection of our employees and the engagement with our customers and stakeholders, while we continue to closely manage business continuity and to control costs. Revenue synergies were somewhat delayed by temporary store closures but are gradually catching up, with important milestones reached on complete pairs (Ray-Ban Authentic), joint ECP programmes (EssilorLuxottica 360) and cross-selling. Adjusted comparable store sales4 were down 6.4% in the quarter. All entities improved sequentially. Retail was equally down, with all countries in the region suffering especially in the beginning of the quarter. The breakdown of 2019 revenue has been restated following the integration of Costa into Luxottica's brand portfolio (see appendix). The performance in Japan suffered from weak traffic in particular in department stores as well as from lower tourism flows. Business bounced back from lockdown lows of the second quarter mainly thanks to optical retail and e-commerce, while sunglasses were affected by extremely poor travel flows and tourists’ spending (Sunglass Hut was negative worldwide). The division enjoyed a good product mix thanks among others to anti- fatigue and blue-cut lenses, which alleviate the eye strain from the increased screen time triggered by the pandemic. Retail performance in Greater China was affected by a third wave of COVID-19 cases in both Hong Kong and Beijing, but progressive improvements were seen in the rest of Mainland China with an overperformance in the optical category. The Company remains on track to deliver cumulative synergies of Euro 420 to 600 million as a net impact on adjusted5 operating profit by 2023. Sales in the Lenses & Optical Instruments division were down only low-single digits, helped by Greater China, Japan and Australia. The Retail division was negative in the quarter. In Latin America, sales decreased by 38.6% (-22.2% at constant exchange rates1) due to the continued impact of COVID-19. EssilorLuxottica has become stronger in these unusual business conditions, which have shown the clear benefit of our resilient optical business and our balanced mix in terms of products, segments and geographies. A past winner of the Company’s See Change innovation challenge, it breaks down one of the key barriers to bringing vision care to the base of the pyramid: the lack of affordable testing tools. Luxottica Group: global net sales 2018, by product category Number of stores of Luxottica worldwide 2000-2019 Safilo Group: net sales distribution This was instrumental in rolling-out or accelerating major commercial initiatives, with partnership programmes dedicated to independent ECPs (EssilorLuxottica 360, Essilor Experts, STARS), the development of promising new categories such as myopia management (with the launch of Stellest) and the ramp-up of complete pairs (with Ray-Ban Authentic). For the first nine months of 2020, consolidated revenue was 10.31 billion euros, a year-on-year decline of 21.2% (down 20.0% at constant exchange rates). Distributed by Public, unedited and unaltered, on 03 November 2020 06:19:03 UTC, Revenue down 1.1% at constant exchange rates, Optical business and developed markets back to. In terms of trade channels, sales were driven by independent ECPs, who benefitted from the consumer preference for the high street, and by e- commerce with strong performances at EyeBuyDirect.com, Clearly.ca and VisionDirect.co.uk. The Wholesale division suffered in both Mexico and Brazil, where approximately 70% of the STARS doors were still closed at the end of September. Consult the Luxottica Annual Report and Publication archive, with information about our financial perfomance since 2003. This in turn fostered a recurring consumer appetite for value-added eyecare and eyewear solutions. Revenue of the eyewear market worldwide by country 2019; Global Rx sunglass market revenue in 2019 ... Luxottica, & EssilorLuxottica. Online sales showed strong momentum in prescription eyeglasses. In parallel, the Company leveraged its unique ability to engage with independent eye care professionals. Results in the Retail division were more mixed with overall sales flat at constant exchange rates1. This was underpinned by the Company's flexible supply chain, which supported all product categories at both global and local levels. Third-partye-commerce platforms played a role in the recovery, in particular in North America. In terms of geographies, the divisional performance was driven by a strong North America and a positive Europe, while Asia and Latin America continued to be under significant COVID-related pressure. At the end of September, more than 95% of the Company's stores had reopened across the globe. The Sunglasses & Readers division posted revenue down 8.0% (-4.0% at constant exchange rates1). The European STARS doors experienced an encouraging trajectory in sell-out data in the optical business over the period. Its wholesale business was driven by strong momentum in optical frames and the success of new collections, while its retail business benefitted from new store openings. Wholesale remained under pressure over the period, showing nonetheless progressive improvements compared with the first half of the year. Luxottica Group S.p.A. is an Italian eyewear conglomerate and the world's largest company in the eyewear industry. Charenton-le-Pont, France (November 3, 2020 - 7:00am) - EssilorLuxottica today announced that consolidated revenue for the third quarter of 2020 totalled Euro 4,085 million, representing a year-on- year decline of 5.2% (-1.1% at constant exchange rates1) and highlighting a strong sequential recovery compared to the second quarter of 2020. In geographic terms, developed markets drove the performance, both in North America, Asia and Europe, which fared particularly well. They swiftly adapted to a challenging environment and a new way of working, enabling the company to continue its solid recovery. The Retail division was down 19.7% at constant exchange rates1 primarily dragged by the sun banners, suffering due to their exposure to touristic locations. The Company ended the quarter with Euro 8.8 billion in cash and short-term investments and a net debt6 of Euro 3.3 billion (including leases liabilities). In addition, the Company has undrawn credit facilities of Euro 5.4 billion. This was especially true in dollar stores, while department stores and travel retail remained under pressure. The Retail division registered revenue down 8.3% (-4.6% at constant exchange rates1), with the number of open corporate retail locations going from 90% of the total at the beginning of the period to more than 95% at the end of the quarter. Valued-added lenses materially contributed to the optical performance, complementing the premium proposition in retail and sustaining the category price-mix (sales of lenses in Luxottica’s Retail up mid-to-high-single digits at constant exchange rates1 in the quarter).Among the regions, North America posted flat revenue at constant exchange rates1 supported by the optical business (EyeMed and Target materially positive, LensCrafters neutral at adjusted comparable store sales4), Asia-Pacific was single-digit negative at constant exchange rates1 sustained by a continued strong performance at OPSM in Australia/New Zealand (up double digits in sales1), while Europe and Latin America posted more negative trends.Direct e-commerce continued to outperform, with revenue from mono-brand platforms up almost two thirds at constant exchange rates1, boosted by Ray-Ban.com, Oakley.com and SunglassHut.com, all mostly driven by sunglasses sales as well as helped by focused promotions. Third Quarter 2020 Revenue Strong recovery driven by resilient optical business * Revenue down 1.1% at constant exchange rates1 (-5.2% at current exchange rates) * Optical business and developed markets back to year-on-year growth1 * E-commerce continued to grow fast, up 40%1 year-to-date to a record Euro 878 million * Strong Free Cash Flow2 and liquidity Charenton-le-Pont, ��� Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. Demand for surfacing and coating machines remained subdued. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Some of the fastest-growing stocks of 2020 look primed to outperform in 2021 and the years ahead. (March 6, 2020). This recovery was driven by independent ECPs who were quick to implement new safety protocols to leverage patient interactions, generate higher capture rates and improve their product mix. Combined with our drive to promote our large portfolio of brands, digitalise the consumer journey and more broadly reshape and transform the eyecare and eyewear industry, this all gives us great confidence in the Group’s future prospects for 2021 and beyond”, commented Francesco Milleri, Deputy Chairman and CEO of Luxottica, and Paul du Saillant, CEO of Essilor. With the second wave of COVID-19 leading to new lockdowns in Europe, our priority remains the protection of our employees and the engagement with our customers and stakeholders, while we continue to closely manage business continuity and to control costs. Among the regions, North America posted flat revenue at constant exchange rates1 supported by the optical business (EyeMed and Target materially positive, LensCrafters neutral at adjusted comparable store sales4), Asia-Pacific was single-digit negative at constant exchange rates1 sustained by a continued strong performance at OPSM in Australia/New Zealand (up double digits in sales1), while Europe and Latin America posted more negative trends. In parallel, management will continue to build a strong combined Group, deepen the integration and deliver synergies, while continuing to control costs and preserve cash. It is classified as operating in the Eye Glasses & Contact Lens Stores industry. In particular, OPSM experienced pleasing trends in conversion as well as in lens upselling thanks to an excellent in-store execution. In view of the second wave of the COVID-19 pandemic in Europe, the Company will consider in December the opportunity to distribute a dividend by year end. 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