Financial Results – Page 17
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Safilo’s full-year sales forecasts cut by analysts
After Safilo released weaker-than-expected second-quarter results, some financial analysts cut their forecasts for the full year. In the second quarter of 2020, Safilo registered a 54.0 percent decrease in sales to €114.5 million as a consequence of coronavirus-related lockdowns and travel restrictions. Thanks to a mid-single digit growth rate posted ...
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ArticleEssilorLuxottica cautiously optimistic after Q2 sales halved
EssilorLuxottica is cautiously optimistic about the remainder of the year and expects its “transition on the way towards normalization” to continue in the third quarter after second-quarter revenues were nearly halved amid Covid-19 lockdowns. Yet given uncertainty on the evolution of the pandemic, with local lockdowns already re-imposed in some ...
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Article
Safilo signals moderate decline in Q3 sales despite July rebound
Safilo warned that it could suffer a moderate decline in sales in the third quarter, despite the rebound experienced in July and the contribution of its new acquisitions Privé Revaux and Blenders, that propped up sales in the first half. The company is also negotiating with creditor banks a “significant” ...
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Article
Big drop in revenues drives Sun Hing in the red
Sun Hing, the Hong-Kong based eyewear company, registered a sharp drop in revenues for its financial year ended on March 31, with overall sales of 912.8 million HK dollars (€102.9m-$117.7m), down by 25.5 percent from HK$ 1,223.9 million a year earlier. Gross profit margin was down by 4.1 percentage points ...
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Article
JINS’ revenues down by 38 percent in Q3
Revenues were down by 37.8 percent year-on-year to 10,303 million yen (€84.2m-$96.2m) in the third quarter ended on May 31 for JINS, the Japanese-based low-cost optical retail chain. The company, which was able to maintain a good momentum in the previous quarter, was more severely hit in the third quarter ...
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ArticleEssilorLuxottica sees first signs of recovery
EssilorLuxottica is seeing the “first signs of recovery” as lockdowns introduced worldwide to slow down the spread of the Covid-19 pandemic are lifted. In a prepared message delivered to shareholders at the company’s annual general meeting, the executive chairman Leonardo Del Vecchio and executive vice-chairman Hubert Sagnières indicate that the ...
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ArticleRodenstock completes a €75 million capital increase
Rodenstock has obtained funds from its shareholders to finance its development while its business is recovering faster than expected from the coronavirus crisis.
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Article
CooperVision sees Q3 sales fall after 17% decline in Q2
CooperVision (CVI)’s sales in the second quarter ended on April 30 fell by 17 percent to $402.2 million, as the business highlighted “unprecedented” challenges tied to Covid-19 and the management warned that third-quarter sales could contract by 15 to 20 percent. The parent company CooperCompanies withdrew its full-year guidance due ...
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ArticleMarcolin Q1 sales drop by 28% on Covid-19 impact
In the first quarter of 2020, Marcolin’s revenues fell by 28.0 percent to €93.5 million due to the impact of the Covid-19 pandemic. At constant currency rates, the decline reached 28.6 percent. In January and February, the company was moderately affected by the shutdown of its Chinese suppliers, which are ...
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ArticleItalia Independent lowers its forecasts until 2023
Italia Independent has revised downwards its business plan though 2023 due to the impact of the Covid-19 pandemic. It now expects to post sales of about €40 million in 2023 compared with a previous estimate of €42 million in the business plan approved in November 2019. The revenues are projected ...
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Article
Zeiss claims a higher market position in eyeglass lenses
In reporting its results for the first half of its financial year, ended on March 31, Carl Zeiss said it expanded its position in the market for eyeglass lenses. Without breaking down the figures, it said that the Vision Care division saw growth during the period, but gave no details. ...
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Article
Richemont enjoys strong demand in China but warns that Covid-19 impact may last
As China has become the bellwether on how fast an economy can recover from the Covid-19 crisis, Richemont pointed out that it is currently enjoying strong demand in the country. Nevertheless, it warned that the impact of the virus on the global economy may last a long time.
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Article
Bausch Health’s Q1 revenues flat
Bausch Health’s sales were constrained by the Covid-19 pandemic but the global consumer and international prescription activities of its Bausch + Lomb eye care division posted strong growth. It expects a recovery from the latter part of the second quarter but nevertheless cut its full-year guidance.
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Article
Hoya Q4 eyeglass lens sales down 10%, contact lenses more resilient
Like many others, the Covid-19 outbreak has hit Hoya Corporation in its quarterly results. The Japanese group is, however, upbeat on the prospect of recouping from pent-up demand in the eyeglass segment based on signals from China and South Korea, where the pandemic is vaning.
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Article
Eschenbach in full swing on home turf
Eschenbach has been growing constantly in Germany, becoming the market leader in prescription eyewear. It has also enjoyed strong growth in Europe and the U.S..
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Article
Fedon raises €5 million in financing
Giorgio Fedon, the Italian producer of eyeglass cases, obtained €5 million in financing from two leading Italian banks, as well as some members of the family that control it, to fund its investments. In 2019, it returned to being profitable, albeit marginally.
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ArticleEssilorLuxottica’s Q1 sales drop by 10%
EssilorLuxottica’s first-quarter revenues were down by 10.1 percent from the year-ago quarter to €3,784 million, or by 10.9 percent in constant currencies, due to the impact of the Covid-19 pandemic. But, the company is confident that pent-up demand will underpin sales when the crisis is over. Thanks to its financial ...
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ArticleFielmann’s Q1 sales and profits decline
(updated) Blaming the coronavirus outbreak, Fielmann reported a sharp 74.8 percent drop in net income for the first quarter of 2020, down to €11.8 million, on a 7.0 percent decline in consolidated revenues to €352.9 million for the first quarter of this year. The number of glasses sold fell by ...
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Article
Fielmann posts slightly higher profits for the year
Fielmann’s performance for 2019 seems to have confirmed the positive momentum that it had already reported for the first half of the year. According to preliminary figures, its consolidated sales for the 2019 financial year show an increase of about 6 percent to €1.52 billion as compared to €1.43 billion ...
