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Luxottica Group SpA (LUX.N)

LUX.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

BRIEF-Luxottica CFO says too early to say if 2017-2018 guidance stands
Monday, 25 Jul 2016 12:17pm EDT 

Luxottica: Chief Financial Officer Stefano Grassi says "wants to see how things progress" when asked if company standing by 2017 and 2018 guidance . Executive says like-for-like retail sales grew 0.6 percent in H1 Further company coverage: [LUX.MI] (Reporting by Milan Newsroom) Keywords: (CORRECTED).  Full Article

Most stocks in Italy's blue chip index fail to open
Friday, 24 Jun 2016 03:13am EDT 

Italian stocks: Most stocks in Italy's blue chip index FTSE MIB fail to open . Of the stocks that managed to open, Enel is down 9.7 percent, Luxottica is down 5.9 percent, Snam down 6 percent, Atlantia down 8.5 percent Further company coverage: [ENEI.MI][LUX.MI][SRG.MI][ATL.MI] (Reporting by Milan newsroom).  Full Article

S&P raises outlook on Luxottica to positive, affirms ratings
Tuesday, 31 May 2016 12:15pm EDT 

Standard & Poor's says: revises outlook on Italian eyewear group Luxottica to positive from stable thanks to solid cash generation . affirms 'A-' long-term and 'A-2' short-term corporate ratings on the group Further company coverage: [LUX.MI] (Reporting by Milan newsroom).  Full Article

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BRIEF-Proposed combination of Essilor and Luxottica is progressing

* Transfer by Essilor International of its activities and shareholdings to its fully-owned subsidiary, Delamare Sovra, to be renamed Essilor International