October 30, 2019 / 6:51 AM / a month ago

EssilorLuxottica confirms 2019 targets after stronger third-quarter sales

PARIS (Reuters) - EssilorLuxottica (ESLX.PA) confirmed its 2019 outlook and savings targets on Wednesday after posting higher third-quarter sales, although revenue growth for Ray Ban maker Luxottica was hit by turmoil in Hong Kong and a long rainy season in Japan.

Sales at the world’s largest eyewear group, formed last year after the merger of French lenses specialist Essilor and Italian spectacles maker Luxottica, rose 5.2 percent from a year earlier at constant exchange rates to 4.3 billion euros ($4.78 billion).

While Latin America and Europe led momentum, revenue growth in Asia, Oceania and Africa decelerated to 5.1 percent but EssilorLuxottica did not provide a comparison to the year ago pace as it only started publishing results as a fully integrated company this year.

“The overall growth in the region for Luxottica decelerated during the third quarter mainly due to lower Chinese traveling flows, the ongoing political turmoil in Hong Kong and the unfavorable weather conditions in Japan,” the group said.

Last week, EssilorLuxottica and French luxury brand Chanel said they had renewed an exclusive eight-year licence agreement.

Reporting by Matthias Blamont, Editing by Sarah White

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