EssilorLuxottica: Sales up 5.5% in the 1st quarter with the EMEA region – 04/18/2024 at 7:27 p.m.

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EssilorLuxottica reported on Thursday a 5.5% increase in its turnover in the first quarter, driven by strong growth across all distribution channels and categories in the EMEA region (Europe, Middle East, Africa).

The turnover of the manufacturer of Oakley and Ray-Ban sunglasses stood at 6.34 billion euros for the first three months of the year, slightly below the expectations of analysts, who were counting on 6.42 million euros in a Visible Alpha consensus.

“The best performing regions were EMEA, Asia Pacific and Latin America, while North America recorded low single-digit growth, driven in part by high basis of comparison over two years,” the group said in a statement.

Sales in the North America region, the group’s largest market, increased 1.7% to 2.88 billion euros from 2.86 billion euros a year ago. Sales growth in the EMEA, Asia Pacific and Latin America regions was between 8.2% and 10.9%.

EssilorLuxottica has also confirmed its annual revenue growth target of around 5% between 2022 and 2026 at constant exchange rates. The group is also targeting an adjusted operating profit of around 19 to 20% of turnover at the end of this period.

(Writing by Augustin Turpin, edited by Kate Entringer)

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