In-article:

EssilorLuxottica: National Vision’s warning weighs











Photo credit © EssilorLuxottica


(Boursier.com) — In last place in the CAC40, EssilorLuxottica drops 2.7% to 147.8 euros. A decline that echoes the warning issued by the American National Vision. The company, whose revenue declined in the first quarter, lowered its 2022 guidance as it faces strong headwinds from the health crisis. The title drops by more than 10% at the opening of Wall Street. “Looking ahead, we expect macro headwinds weighing on our low-income consumers as well as review capacity constraints to affect our near-term performance and we are updating our outlook for the year. 2022. We are actively working to increase exam capacity with enhanced recruitment and retention programs for optometrists as well as an accelerated rollout of our remote medicine initiative,” said Reade Fahs, CEO of National Vision.

“There is a negative cross-read for EssilorLuxottica from National Vision’s announcement since North America is one of their largest markets and has been the main driver of growth in 2021,” explains ‘Bloomberg ‘ Jelena Sokolova, analyst at Morningstar. “We can expect some normalization of demand in this market in the coming years.”


©2022 Boursier.com






Source link -87