Headlines

Looking Good

Luxottica reports strong 2Q, first half 2004

Published

20 years ago

July 28, 2004

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Luxottica Group S.p.A. (Milan, Italy), fresh off its endless-but-triumphant pursuit of Cole National Corp. (Twinsburg, Ohio), announced a 13.7 percent increase in net sales for the second quarter of 2004. Net income gained 16.7 percent.

For the first half of 2004, net sales were up 10.8 percent and net income up by 12.7 percent.

“We are pleased with the year-to-date performance of our retail and, in particular, wholesale operations,” said chairman Leonardo Del Vecchio. “In fact, assuming constant exchange rates, consolidated sales for the first half of the year would have risen by 17.3 percent. “

Retail sales for the six-month period improved by 11.3 percent and same-store were up 4.2 percent. Same-store sales for the second quarter increased 4.1 percent.

The international eyewear company also announced that Roberto Chemello has stepped down as ceo, though he will remain on the company’s board. Andrea Guerra was named to replace him.

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