Sales momentum accelerated in Q2 led by lenses, sunglasses and wholesale, though retail saw a deceleration. Given the new product launches, momentum is likely to accelerate further in H2 and thus the FY19 sales targets seem attainable. As anticipated, profitability slumped in H1, due to an increased marketing spend to support new product launches and, given the seasonality of the business, we foresee margin compression on a sequential basis. Note that the EssilorLuxottica integration process
02 Aug 2019
Step-up in sales in Q2; integration process also accelerates
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Step-up in sales in Q2; integration process also accelerates
EssilorLuxottica SA (EI:WBO) | 0 0 1.9% | Mkt Cap: 24,290m
- Published:
02 Aug 2019 -
Author:
Sumit Sayal -
Pages:
4
Sales momentum accelerated in Q2 led by lenses, sunglasses and wholesale, though retail saw a deceleration. Given the new product launches, momentum is likely to accelerate further in H2 and thus the FY19 sales targets seem attainable. As anticipated, profitability slumped in H1, due to an increased marketing spend to support new product launches and, given the seasonality of the business, we foresee margin compression on a sequential basis. Note that the EssilorLuxottica integration process