Luxottica (LUX) 3Q16 Trading Update: Sales in Line, FY16 Guidance Confirmed

Executive Summary

• Luxottica reported that 3Q16 adjusted revenue increased by 1.2% (1.4% in constant currency), to €2.2 billion, in line with the consensus estimate. Sales growth was driven by solid performance in Europe and some emerging markets, as well as by acceleration in the retail segment.
• Luxottica e-commerce sales increased by 18% year over year at constant exchange rates.
• The company confirmed its FY16 guidance outlook. It expects to generate 2%–3% revenue growth at constant exchange rates and to grow FY16 operating and net income in line with sales.