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Fielmann says taking market share as posts in-line Q3
November 7, 2013 / 6:46 AM / 4 years ago

Fielmann says taking market share as posts in-line Q3

FRANKFURT, Nov 7 (Reuters) - German opticians and glass retailer Fielmann AG said it was taking share off rivals in a declining market, as it reported third-quarter results in line with expectations.

For the third quarter, it announced sales up 5.8 percent to 302 million euros ($408.53 million) and pretax profit up 11.5 percent to 60.7 million euros, in line with the average estimates for 304 million and 60.5 million euros in a Reuters poll.

Fielmann, whose stores are a common sight on Germany’s shopping streets, added it was optimistic for 2013, and expected to increase its market share further.

It increased glasses sales by 3.1 percent in the first nine months of 2013, against a 1 percent decline for the market as a whole. ($1 = 0.7392 euros) (Reporting by Jan Schwartz and Victoria Bryan; Editing by Christoph Steitz)

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