Eyewear group EssilorLuxottica raises guidance as sales strengthen

Luxury eyewear group EssilorLuxottica (ESLX.PA) raised its full-year guidance on Friday as sales continued to rise above pre-pandemic levels in the third quarter, helped by strong growth in North America and Latin America.

The maker of Oakley and Ray-Ban sunglasses now expects revenue growth in a mid to high single-digit percentage over pre-pandemic 2019 at constant currencies and growth in adjusted operating margin of up to 100 basis points compared with 2019.

“While accelerating revenue, our company has materially expanded its margins, proving to what extent it can operationally leverage business growth,” Chief Executive Francesco Milleri and his deputy, Paul du Saillant, said in a joint statement.

The company previously expected full-year revenue growth at a mid-single-digit rate and its adjusted operating profit margin to be higher than in 2019.

Like-for-like revenue in the third quarter rose to 4.46 billion euros ($5.20 billion), up 9% from 2019.

($1=0.8572 euros)

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