Tuesday, December 13, 2011

Believe It or Not, Luxottica Could Be Bigger

"Italian eyewear manufacturer Luxottica Group (LUX) has built an impressive global business, and recent results have shown positive growth. Over the last year the company saw its growth slowed by currency exchange rates, converting dollars to euros." So starts the post from MoneyNews. "Luxottica Group currently generates 80 percent of its retail sales in the United States. As a result, net sales in euros for the third quarter increased by just 4 percent on a year-over-year basis. Sales in dollar terms grew by almost 14 percent. On a constant currency basis, the sales would have grown by 10 percent. During the year, the euro strengthened against the dollar, going from about $1.30 per euro to over $1.41. A reversal of this trend would be positive for Luxottica in terms of euro results." Read more.

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