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Ray-Ban Maker EssilorLuxottica Posts Higher Quarterly Revenue

Ray-Ban Maker EssilorLuxottica Posts Higher Quarterly Revenue

Friday, 22 April, 2022 - 07:00
A Ray-Ban sunglass frame is pictured for sale in a Sunglass Hut, both brands owned by EssilorLuxottica SA, in Manhattan, New York City, US, November 30, 2021. (Reuters)

French-Italian eyewear group EssilorLuxottica SA reported a sharp rise in first-quarter revenue on Friday, helped by strong performance across most regions.

The maker of Oakley and Ray-Ban sunglasses reported revenue of 5.61 billion euros ($6.09 billion) for the first three months of the year, up 38.1% from a year earlier at current exchange rates.

China sales fell in March following a surge in COVID-19 cases in the country and related lockdowns. The country's race to stop the pandemic is clogging highways and ports, stranding workers and shutting countless factories, disruptions that are rippling through global supply chains.

EssilorLuxottica will hold its Capital Markets Day on Sept. 14, during which analysts expect the company to provide details on integration and synergy targets from its Grandvision acquisition completed this year.

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