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Thursday / May 26.
HomeminewsLuxottica Posts Positive Results

Luxottica Posts Positive Results

Luxottica’s plan to focus on growing OPSM and reorganise smaller retail brands has contributed to strong results.[/vc_column_text][/vc_column]

The quarter ended with OPSM net sales up 6.3 per cent. According to Luxottica, comparable same store sales increased by 8 per cent during the same period.

Luxottica’s optical retail business in the region grew in profitability by 23.6 per cent during the second quarter of 2012 compared with the same period of 2011.

Globally, Luxottica Group achieved positive results in the majority of the geographic areas in which it operates, with excellent performance in Australia, North America and all emerging countries.

Chief Executive of Luxottica Asia-Pacific, Chris Beer, said the quarterly results were pleasing and proof that the company’s new strategic direction was the right move.

“Our bold strategy to recalibrate, build the OPSM brand and transition other smaller optical brands into OPSM has contributed to the strong performance. We will continue to invest more in the OPSM brand to ensure consistent growth while setting new standards in eye care in the region,” he added.

Approximately AUD$65 million over the next 24 months is being invested in OPSM, with AUD$20 million committed to leading-edge equipment for the detection of various eye conditions, AUD$40 million dedicated to store upgrades and refurbishments and an additional AUD$5 million in marketing and brand investment.

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