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Luxottica Group SpA (LUX.N)

LUX.N on New York Stock Exchange

58.29USD
27 Apr 2017
Change (% chg)

$0.29 (+0.50%)
Prev Close
$58.00
Open
$58.18
Day's High
$58.38
Day's Low
$58.10
Volume
5,324
Avg. Vol
14,631
52-wk High
$58.38
52-wk Low
$44.85

Latest Key Developments (Source: Significant Developments)

Luxottica's Del Vecchio says would be happy if company was not de-listed
6:14am EDT 

April 28 (Reuters) - Luxottica Group Spa's founder Leonardo Del Vecchio tells shareholder meeting: :would be happy if company was not de-listed from Milan bourse after Essilor's mandatory exchange offer .  Full Article

Essilor says will continue to examine bolt-on acquisition opportunities
Tuesday, 25 Apr 2017 04:50am EDT 

April 25 (Reuters) - Essilor ::Says company will continue to examine bolt-on acquisition opportunities.Earlier this year, Essilor and Luxottica unveiled a merger plan of 46 billion euros to create a global eyewear powerhouse with annual revenue of more than 15 billion euros nL5N1F50X1.  Full Article

France waives mandatory bid obligation in Essilor-Luxottica merger
Wednesday, 12 Apr 2017 12:45pm EDT 

EssilorLuxottica: French market watchdog waives mandatory bid obligation for Leonardo Del Vecchio's holding company Delfin in Essilor-Luxottica merger - document . Merger deal will hand Delfin 38.99 percent stake in EssilorLuxottica, above a 30 percent threshold that under French law would automatically trigger a buyout offer Further company coverage: [ESSI.PA] [LUX.MI] (Reporting by Milan Newsroom).  Full Article

Luxottica CFO sees retail margins improving in 2017
Thursday, 2 Mar 2017 04:49am EST 

Luxottica Group CFO Stefano Grassi tells analyst call: Retail performance will improve in 2017 from a margin standpoint, many stores opened in 2016 will become profit accretive in the second half of 2017 . In 2016 Luxottica's adjusted operating margin for the retail segment fell by 100 basis points, hit by investments in digitalization and shop openings Further company coverage: [LUX.MI] (Reporting by Milan Newsroom).  Full Article

Luxottica CEO says Essilor merger proceeding according to schedule
Thursday, 2 Mar 2017 04:41am EST 

Luxottica Group CEO Massimo Vian tells analyst call: Everything going according to schedule in relation to merger agreed with Essilor Further company coverage: [LUX.MI] (Reporting by Milan Newsroom).  Full Article

Luxottica CFO says 2017 guidance does not include possible tax benefits
Thursday, 2 Mar 2017 04:02am EST 

Luxottica Chief Financial Officer Stefano Grassi says: 2017 guidance does not take into account possible tax benefits that would boost net income . Impact not yet quantifiable Further company coverage: [LUX.MI] (Reporting by Milan Newsroom).  Full Article

Shares in Luxottica down 2 percent after results
Thursday, 2 Mar 2017 03:06am EST 

The world's biggest spectacles maker Luxottica: Shares in the group down 2 percent after results posted on Wednesday . The company gave a cautious outlook for 2017 after reporting a slight drop in operating profit for last year on slower sales growth and rising investments. [nL5N1GE63M] Further company coverage: [LUX.MI] (Reporting by Milan newsroom).  Full Article

BRIEF-Luxottica says 2016 adj EBIT 1.43 bln euros
Wednesday, 1 Mar 2017 11:51am EST 

Luxottica Group says: Adjusted EBIT down 0.7 percent to 1.43 billion euros versus Thomson Reuters SmartEstimate of 1.42 billion euros . Net profit up 3.3 percent in 2016 to 882 million euros . To pay dividend of 0.92 euros per share on 2016 results up 3.4 percent versus previous year . Operating margin 15.8 percent in 2016 versus 16 percent in 2015 . Sees 2017 sales growth of "low to mid single-digits" at constant exchange rates . Sees 2017 adjusted operating income rising 0.8-1.0 times the increase in sales . Sees 2017 adjusted net income rising in line with sales .Sees 2017 net debt/EBITDA ratio of around 0.5 times.  Full Article

Essilor predicts less bolt-on acquisitions this year
Friday, 17 Feb 2017 02:45am EST 

Essilor chief operating officer Laurent Vacherot says: sees uncertain global political context, notably in Europe and the United States . sees no improvement in Brazil economy . time frame of planned merger with Italy's Luxottica unchanged, sees less bolt-on acquisitions this year Further company coverage: [ESSI.PA] (Paris newsroom).  Full Article

Luxottica shares to be delisted as result of Essilor deal
Monday, 16 Jan 2017 01:17am EST 

Essilor /Luxottica : Transaction would entail Delfin contributing its entire stake in Luxottica (approx. 62%) to Essilor in return for newly-issued Essilor shares to be approved by the Essilor shareholders meeting, on the basis of the exchange ratio of 0.461 Essilor shares for 1 Luxottica share . Essilor subsequently making a mandatory public exchange offer, in accordance with the provisions of Italian law, to acquire all of the remaining issued and outstanding shares of Luxottica pursuant to the same exchange ratio and with a view to delist Luxottica's shares . Essilor would become a holding company with the new name "EssilorLuxottica" via a hive-down of all of its operating activities into a wholly-owned company, to be called Essilor international, and the contribution by Delfin of its Luxottica shares . Following the transaction, Delfin would own between 31% and 38% of the shares of EssilorLuxottica and would be its largest shareholder Further company coverage: [ESSI.PA] ((sudip.kargupta@thomsonreuters.com;)).  Full Article

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BRIEF-Luxottica's Del Vecchio says would be happy if company was not de-listed

April 28 Luxottica Group Spa's founder Leonardo Del Vecchio tells shareholder meeting: