Apparently even the sunglass manufacturers such as the Luxottica Group, which owns the Ray Ban and Oakley brands faced a set back after the economic meltdown. But the company is now seeing a positive trend in its sales and hopes to reach a 27 percent increase in its income with a boost in its current quarterly sales. Their net income may rise to 400 million euros ($561 million) from last year’s 315 million euros.
This estimate is in congruence with the estimate reached by twelve analysts of Bloomberg. Chief Executive Officer Andrea Guerra expressed optimism for the rest of this year. The third quarter net income showed a thirty five percent rise to 101.9 million euros. The emerging markets showed the best trend with a 26 percent increase in sales, while established markets such as Europe and North America showed a growth of 13 and 8.5 percent respectively.
Their wholesale market also surged ahead by 13 percent. India and South Korea showed the biggest jump of an impressive forty percent. This Italian company also owns the LensCrafters and Sunglass Hut store brands. Its retail-division revenue witnessed a rise to 946.5 million euros in the third quarter from 793.8 million euros last year.
Via: Bloomberg
