Results in the Retail division were more mixed with overall sales flat at constant exchange rates1. Consult the Luxottica Annual Report and Publication archive, with information about our financial perfomance since 2003. sunglasses, shopping malls and lower-tier Chinese cities. In the third quarter of 2020, revenue totalled Euro 4,085 million, representing a year-on-year decline of 5.2% (-1.1% at constant exchange rates1). Online sales were up strong double digits during the quarter, driven by eyeglasses specialist EyeBuyDirect.com. The division continued to be challenged by the wait-and-see attitude of several customers regarding their capital investments. 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. In contrast, trading conditions at the sun retail network proved to be more difficult. Ray-Ban.com, Oakley.com, SunglassHut.com and the other mono-brand proprietary platforms recorded another strong quarter, with sales overall up approximately 70% at constant exchange rates1 and all websites contributing to this success. 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. CHARENTON-LE-PONT, France���EssilorLuxottica (Reuters: ESLX.PA) yesterday reported consolidated revenue of ���4,085 million for the third quarter of 2020 ending Sept. 30, representing a year-on-year decline of 5.2 percent, or -1.1 percent at constant exchange rates. Italy's Del Vecchio leads UniCredit investor opposition to MPS deal -sources, Consumer Cos Fall As Stimulus Negotiations Drag On -- Consumer Roundup, Chief Executive Officer & Non-Independent Director. “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. 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. Financial data of the last period. For the first nine months of 2020, consolidated revenue amounted to Euro 10,315 million, representing a year-on-year decline of 21.2% (-20.0% at constant exchange rates1). The Wholesale division posted revenue down 5.3% (-1.2% at constant exchange rates1), marking a sharp improvement compared to the second quarter, supported in particular by a positive geographical and price-mix effect. During the third quarter, EssilorLuxottica continued its efforts to create sustainable access to vision care for underserved communities around the world as part of its global ambition to eliminate uncorrected poor vision by 2050. Third-party e-commerce platforms played a role in the recovery, in particular in North America. The division continued to be challenged by the wait-and-see attitude of several customers regarding their capital investments. Blue-cut lenses benefitted from intense screen usage in the new COVID-19 environment. This was supported not only by pent-up demand but also by an enhanced awareness from consumers about the need to take care of their eyes, particularly as they spend more time in front of screens in the COVID-19 new normal. The Equipment division posted revenue down 14.9% (-11.7% at constant exchange rates1). 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. By countries, the business was supported by a material rebound in several key markets: France thanks to the success of the multi-network distribution strategy, Italy, the Nordics, the Benelux and Eastern Europe. The division benefitted from the restocking activity in all main channels except department stores. 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). 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. Third Quarter 2020 RevenueStrong recovery driven by resilient optical business. Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. EssilorLuxottica SA's revenue fell slightly in the third quarter compared with the same period of 2019, but improved from earlier in the year, the ��� As the pandemic reaccelerates throughout Europe and this second wave increases the level of uncertainty over the weeks to come, the Group will continue to prioritize these areas, while focussing on employee protection, business continuity and close partnerships with customers and other stakeholders. The Sunglasses & Readers division posted revenue down 8.0% (-4.0% at constant exchange rates1). 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. Declining sales of new machines were offset by consumables and maintenance revenue. Full year 2019 results. These included the extended rollout of Smart Shopper and in-store tele-optometry. Target Optical returned to its solid growth trajectory finishing the quarter with high-single-digit adjusted comparable store sales4 and the insurance business demonstrated strong resilience with sales up double digits at constant exchange rates1. The teams of Essilor and Luxottica work together and in close collaboration, under the direction of the CEOs of the two companies and their Chief Integration Officers. In the third quarter of 2020, revenue totalled Euro 4,085 million, representing a year-on-year decline of 5.2% (-1.1% at constant exchange rates1). Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP. The breakdown of 2019 revenue has been restated following the integration of Costa into Luxottica's brand portfolio (see appendix). EssilorLuxottica : EssilorLuxottica announces organizational ��� Charenton-le-Pont, France (March 6, 2020 ��� 7:00am) - The Board of Directors of EssilorLuxottica met on March 5, 2020 to approve the consolidated financial statements for the year ended December 31, 2019. Recent product announcements such as the launch of Stellest in China, a revolutionary new lens to manage myopia in children, and the recent partnership with Facebook in smart glasses, confirm that our Group never stops in its pursuit of innovation. The business was primarily boosted by the overall restocking of the independent channel, which restarted activity after restrictions in the second quarter caused more than two thirds of wholesale customers worldwide to close. After a challenging first half of the year, sunglasses sales started to fare better. For each geographic area, the calculation applies the average exchange rate of the prior period to bothperiods.5 Adjusted measures or figures: adjusted from the expenses or income related to the combination between Essilor and Luxottica and other transactions that are unusual, infrequent or unrelated to the normal course of business as the impact of these events might affect the understanding of the Group’s performance.6 Net debt: sum of Current and Non-current borrowings, Current and Non-current lease liabilities, minus Short-term investments, Cash and cash equivalents and the Interest Rate Swap measured at fair value as disclosed in the IFRS consolidated financial statements. Strong recovery driven by resilient optical business. Sunglasses & Readers revenue was down 21.7% at constant exchange rates1 due to its exposure to the sun category. In the third quarter, OneSight opened 13 Sustainable Vision Centres across Rwanda and Zambia, bringing permanent vision care access to an additional 2.6 million people. E-commerce was up strong double digits for the banner. 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. Promising results were registered on the more resilient optical side of the division. 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. Consumables, spares and maintenance services were more resilient. As for other economies, trading conditions remained tough in markets such as Hong Kong, India, South Korea and the Philippines. They swiftly adapted to a challenging environment and a new way of working, enabling the company to continue its solid recovery. In Latin America, sales decreased by 38.6% (-22.2% at constant exchange rates1) due to the continued impact of COVID-19. As the pandemic reaccelerates throughout Europe and this second wave increases the level of uncertainty over the weeks to come, the Group will continue to prioritize these areas, while focussing on employee protection, business continuity and close partnerships with customers and other stakeholders. 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. EssilorLuxottica Societe Anonyme revenue for the twelve months ending June 30, 2020 was $0M, a NAN% increase year-over-year. For the first nine months of 2020, consolidated revenue ��� E-commerce was up 40%1 to a record Euro 878 million in the first nine months of 2020, driven by the Company's proprietary brand platforms (Ray- Ban.com, Oakley.com and SunglassHut.com) as well as several multi-brand sites (EyeBuyDirect.com, Clearly.ca, Visiondirect.co.uk). Its Bass Pro stores fared relatively better benefitting from the increased focus on outdoor activities. This was supported not only by pent-up demand but also by an enhanced awareness from consumers about the need to take care of their eyes, particularly as they spend more time in front of screens in the COVID-19 new normal. 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. These trends were magnified in Brazil, where sales grew double digits in September and ended the quarter down only mid-single digits. The performance in Japan suffered from weak traffic in particular in department stores as well as from lower tourism flows. Yarui Xiamen Optical (Bolon)’s optical frames and MJS’s online platforms kept attracting strong consumer demand. This in turn fostered a recurring consumer appetite for value-added eyecare and eyewear solutions. This limited time offer for independent eye care practices will be available from July 1 through September 30, 2020. While COVID-19 disruptions continued to weigh on sales, the Company significantly mitigated their impact through strong execution, leading to a positive mix in all the main divisions, both in terms of products (consumers favoring value-addedsolutions) and trade channels (independent ECPs driving the recovery). Mainland China turned positive in the quarter thus consolidating the encouraging trajectory started during the second quarter of the year. LensCrafters posted flat adjusted comparable store sales4, with street-facing locations in positive territory while mall locations, representing approximately 70% of the store base including Macy’s, were still negatively impacted by lower traffic as well as reduced opening hours. Oakley performed particularly well in both eyewear and AFA driven by the success of the NFL partnership. The divisional performance was also supported by a consistent pricing strategy, despite the generally more promotional environment. Strong recovery driven by resilient optical business Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux® and Transitions®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family. The European STARS doors experienced an encouraging trajectory in sell-out data in the optical business over the period. a positive mix in all the main divisions, both in terms of products (consumers favoring. The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. 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. At the end of September, more than 95% of the Company's stores had reopened across the globe. EssilorLuxottica SA published this content on 03 November 2020 and is solely responsible for the information contained therein. Retail chains located in shopping malls lagged behind during the recovery. Uplift in Sales and Net Profit growth Strong foundation to accelerate synergy delivery Revenue growth at constant exchange rates 2 ��� 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. Statista. 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. Instrument sales were up double digits as optometrists sought to improve the eye exam experience and the overall level of service. Multiple digital initiatives rapidly transformed the Company’s go-to-market strategy. New products were also supportive of the mix with Transitions GEN 8, AVA lenses and VR-800 measuring instruments continuing their ramp-up. The magnitude of the declines reflected the duration of the lockdowns and store closures across the various countries, their geographic reach (nationwide or more local), the measures taken by the different governments to reopen their economies as well as overall consumer behaviour in face of the pandemic. Partnering with Luxottica, customers will receive a $50 rebate when they combine those Essilor lenses with a pair of branded frames from Luxottica���s portfolio, including Ray-Ban, Oakley, Costa, Arnette and Vogue Eyewear. Revenues in all regions were down double digits over the first nine months of the year. Multiple digital initiatives rapidly transformed the Company's go-to- market strategy. 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. 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. For the first time, Essilor and Luxottica jointly launched a customer-facing fundraising campaign, leveraging the network of approximately 60 LensCrafters stores in China. The strong balance sheet also reflects the sound Free Cash Flow2 generation of the quarter, as a result of cost control and cash preservation measures. In the last few months, the need for good vision confirmed its resilience and structural characteristics despite a volatile health and business environment. 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. Optical eyeglasses were back to growth both online and in traditional retail, while holiday travel restrictions related to COVID-19 weighed on the demand for sunglasses. Sunglasses & Readers revenue was slightly up year-on-year. 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. 3Q 2020 Revenue 1 ESSILORLUXOTTICA 3Q 2020 REVENUE. This will be done by launching innovative products, transforming the consumer journey, enhancing digitalisation and capitalizing on a robust supply chain. Over the next few quarters, EssilorLuxottica intends to leverage its integrated assets and vertical business model to safeguard its ability to outperform the eyecare and eyewear industry. The more discretionary character of the business and marked exposure to touristic flows weighed on the results of Sunglass Hut, which posted negative high-single-digit adjusted comparable store sales4. Demand for surfacing and coating machines remained subdued. 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. Sales posted solid year-on-year growth up to February, followed by material year-on-year declines from March due to the various COVID-19 related lockdowns across the world. November 3, 2020. In particular, OPSM experienced pleasing trends in conversion as well as in lens upselling thanks to an excellent in-store execution. Essilor posted revenue of ���1,162 million, down 40.9 percent from year ago. In Japan, revenue returned to year-on-year growth during the quarter, thanks to a strong performance of blue-cut lenses. 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. EssilorLuxottica SA said Friday that revenue grew in 2019, and it raised the dividend as it guided for sales growth in 2020 despite the coronavirus epidemic. Demand for surfacing and coating machines remained subdued. 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. 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. The Sunglasses & Readers division posted revenue down 8.0% (-4.0% at constant exchange rates1). The banner benefitted from positive conversion rates and the high penetration of Smart Shopper sales as a proportion of the total. 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. While COVID-19 disruptions continued to weigh on sales, the Company significantly mitigated their impact through strong execution, leading to a positive mix in all the main divisions, both in terms of products (consumers favoring value-added solutions) and trade channels (independent ECPs driving the recovery). In parallel, the Company leveraged its unique ability to engage with independent eye care professionals. Global revenue share of EssilorLuxottica in 2019, by geographical ��� Translated by Erin Floyd Release December 11, 2020 French and Italian eyewear group Essilor Luxottica is reconsidering a multi-billion dollar acquisition of its Dutch distributor Grandvision, people familiar with the matter told Bloomberg. Consumables, spares and maintenance services were more resilient. The Lenses & Optical Instruments division posted revenue down 1.8% (up 2.7% at constant exchange rates1). Business nicely restarted in July and August in all major countries, while September came in softer. Good quality results are being achieved. Optical activities, which represent a solid 70% of the Company's revenue, drove the regained sales momentum. New products were also supportive of the mix with Transitions GEN 8, AVA lenses and VR-800 measuring instruments continuing their ramp-up. In Greater China, Xiamen Yarui Optical (Bolon) turned positive, up double digits year-on-year. The performance at optical retail improved visibly during the course of the quarter with all banners accelerating. X. As a result, revenue at constant exchange rates1 was down 17.1% in North America, 21.6% in Europe, 21.9% in Asia, Oceania and Africa and 32.9% in Latin America. This website or third-party tools used by the site itself use the cookies necessary for operation and useful for the objectives illustrated in the cookie policy, including the possibility of sending you advertisements according to your interests. 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. The quarterly performance in the country was driven by optical, which more than offset the negative impact arising from the shutdown in the State of Victoria. EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Storesthat are or were temporarily closed due to the COVID-19 crisis are excluded from the calculation for the duration of thestore closure. The Company has now provided over 360 million people with access to vision care since 2013 through its two pillars of access creation: greenfield outlets (like the Eye Mitra program) and philanthropic programs via charitable clinics and Sustainable Vision Centres. In Asia, Oceania and Africa, revenue declined by 11.4% (-8.3% at constant exchange rates1). For the first nine months of 2020, consolidated revenue amounted to Euro 10,315 million, representing a year-on-year decline of 21.2% (-20.0% at constant exchange rates1). EssilorLuxottica SA, the maker of Ray-Ban sunglasses, is reconsidering its agreed 7.3 billion-euro ($8.8 billion) purchase of optical retailer GrandVision NV on ��� Retail was equally down, with all countries in the region suffering especially in the beginning of the quarter. Optical activities, which represent a solid 70% of the Company’s revenue, drove the regained sales momentum. Adjusted comparable store sales4 were down 6.4% in the quarter. The performance at Sunglass Hut Brazil then started to progressively recover resulting in positive adjusted comparable store sales4 in the month of September. 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. The business was primarily boosted by the overall restocking of the independent channel, which restarted activity after restrictions in the second quarter caused more than two thirds of wholesale customers worldwide to close.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. solutions) and trade channels (independent ECPs driving the recovery). Third-quarter 2020 revenue by geographical area. The Lenses & Optical Instruments division posted revenue down 1.8% (up 2.7% at constant exchange rates1). 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. Emerging markets3 improved significantly compared to the second quarter of 2020, with some of them already back to year-on-year revenue growth at constant exchange rates1, among which Mainland China and Eastern Europe. In return, the strong motivation, commitment and professionalism of EssilorLuxottica's 150,000+ people and 400,000+ professional customers enabled the Group to continue to exercise its responsibility and industry leadership, thanks to a strong pipeline of innovative branded products well suited to the new environment and an eagerness to enhance the in-store consumer experience. However, trends in Brazil slightly improved during the last weeks of the quarter due to a partial recovery of the independent channel. In geographic terms, developed markets drove the performance, both in North America, Asia and Europe, which fared particularly well. 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