EssilorLuxottica’s Q1 sales were 3.8% higher than the market’s expectations. Both business segments contributed to the momentum (PS: +7.7% and DTC: +9.4% yoy). Although the rebound in China came as no surprise, we note a solid performance in North America and Brazil. EL’s premium pricing/positioning and recovery in the ESP category were the key drivers in North America. The management confirmed that the top line momentum has continued in April. We will slightly increase our financial estimates a ....
