Luxottica profit falls 21% in Q3
Milan, Italy Eyewear maker Luxottica Group said third-quarter profit fell 21% as the demand for luxury goods declined in the United States.
The company also reported that its net income declined to 83.1 million euros ($133.8 million) from 104.6 million in the quarter, while sales rose 0.9% to 1.22 billion euros.
Meanwhile, same-store sales at LensCrafters and Pearle Vision retail brands in North America fell 5.3% in the quarter and Sunglass Hut sales worldwide fell 5.6%.
In 2010, Luxottica said it expects double-digit growth in emerging markets and gradual improvements in Western market.