Wednesday, October 30, 2013

Luxottica Working on New Licensing Deal

"Italy's working on a new licence deal and expects to match an 8 percent third-quarter rise in net profit for the next three months despite recent currency turmoil, its CEO told Reuters." That was the post on Yahoo!Finance. "The maker of Ray Ban, Oakley and Armani branded glasses, which makes more than half of its sales in North America, posted quarterly net profit of 148 million euros ($203.79 million), beating a Thomson Reuters SmartEstimate of 142.6 million euros....Luxottica said group net sales were affected by the weak dollar, which fell by 3.5 percent against the euro in the third quarter compared with a decline of just 1 percent in the previous three months. Sales rose 7.4 percent at constant exchange rates to 1.8 billion euros. But at current rates, sales were flat." Read more.

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