Luxottica Q4 Sales Increase 4%

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• March 13 2009
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Luxxotica Group, parent company of Oakley and Sunglass Hut, reported fourth quarter sales were up 4%, to $1.58 billion compared to $1.51 billion, while earnings dropped 44.2%, according to a statement released Thursday, March 12. On a per share basis in dollars, earnings fell to 16 cents a share from 31 cents.

The company also posted results for 2008, which reflected a 4.7% sales increase, and a 17.6% decrease in earnings, according to the company report. Luxottica Group CEO Andrea Guerra had this to say:

“‘We closed 2008, a particularly challenging year, with all-time high consolidated sales of over Euro 5 billion, net income of nearly Euro 400 million and free cash flow of Euro 300 million.We successfully completed the first full year of working with Oakley and laid the foundation for Luxottica’s long-term growth, even through a period as difficult as the one we are now facing.’”

In its outlook for 2009, Luxottica also announced the further expansion of the Oakley brand, including further development of womens’ lines, new technology.

Download the full report HERE, or view a summary HERE.