EssilorLuxottica: Sales up 5.5% in the 1st quarter with the EMEA region

(Reuters) – EssilorLuxottica reported a 5.5% increase in first-quarter revenue on Thursday, driven by strong growth across all distribution channels and categories in the EMEA (Europe) region. , 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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