ESLOY Essilor Luxottica (PK)

   By Joshua Kirby 
 

EssilorLuxottica SA's revenue fell slightly in the third quarter compared with the same period of 2019, but improved from earlier in the year, the company said Tuesday.

The Franco-Italian eyewear giant said revenue in the period was 4.09 billion euros ($4.76 billion), down 1.1% at constant currency on year from EUR4.31 billion. The figure is improved from the first half of the year, when the group posted a sales decline of 29% amid mass store closures due to the coronavirus.

As of the end of September, more than 95% of its stores had reopened, said the company, which was created in October 2018 from the combination of optical-lens manufacturer Essilor and luxury-eyewear maker Luxottica.

Quarterly revenue was slightly ahead of expected sales of EUR4.01 billion, according to a FactSet-compiled consensus of three analyst estimates.

The pandemic has been a catalyst for the company to deepen integration and digitalize its business, the company said. "As the pandemic reaccelerates throughout Europe and this second wave increases the level of uncertainty over the weeks to come, the group will continue to prioritize these areas," it said.

Write to Joshua Kirby at joshua.kirby@dowjones.com

(END) Dow Jones Newswires

November 03, 2020 01:47 ET (06:47 GMT)

Grafico Azioni Essilor Luxottica (PK) (USOTC:ESLOY)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Essilor Luxottica (PK) (USOTC:ESLOY)
Storico
Da Lug 2023 a Lug 2024