Jul 28, 2009
Luxottica second quarter net falls, "confident" going into second half
Jul 28, 2009
MILAN, July 28 (Reuters) - Italian eyewear maker Luxottica (LUX.MI) reported a 3.5 percent rise in second-quarter sales but a fall in net profit on Tuesday 28 July and said it was "confident" going into the second half of the year thanks to a less challenging scenario.
D&G summer 2010 with D&G sunglasses from Luxottica - Photo: www.dolcegabbana.com
The maker of Prada and Ray-Ban eyewear said in a statement its net income fell 12.7 percent to 115.7 million euros ($165.2 million). Net sales were down 3.3 percent at 1.402 billion euros at constant exchange rates.
The company said the current environment was less uncertain "albeit certainly still challenging".
"The very positive results achieved to-date allow us to be more confident going into the second half of the year, thanks to a less challenging scenario overall," Chief Executive Andrea Guerra said in the statement.
Luxottica said there were considerable differences between geographic regions -- North America was still negative but more stable than during the first few months of the year while Europe was improving, thanks to good weather.
"Key emerging markets continue to be positive overall," Luxottica said.
For the first half of the year net sales fell 1.4 percent to 2.714 billion euros while net profit fell 17 percent to 196.1 million euros.
Its shares closed up 1.5 pct at 16.27 euros before the statement came out. ($1=.7004 euros) (Editing by Greg Mahlich)
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