×
90 803
Fashion Jobs
KOHLS
Financial Analyst
Permanent · Menomonee Falls
GAP
General Manager - Glendale Galleria
Permanent · Glendale
MACY'S
Asset Protection Security Guard, Herald Square - Full Time
Permanent · New York
MACY'S
Asset Protection Detective, Northpark Center - Part Time
Permanent · Dallas
MACY'S
Asset Protection Detective, Manhattan Beach - Full Time
Permanent · Manhattan Beach
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Dadeland
Permanent · Miami
AESOP
Part Time Retail Consultant | Seaport
Permanent · Boston
KOHLS
Distribution Center Operations Manager
Permanent · Patterson
PAUL SMITH
Sales Supervisor- Wooster Street
Permanent · NEW YORK
URBN
Urbn Urban Outfitters Inc. Inventory Control/Quality Audit
Permanent · RENO
H&M
Senior Director, Sales Component Engineering
Permanent · ATLANTA
H&M
Part Time Cleaning Technician
Permanent · NEW YORK
PRIMARK
Visual Merchandising Manager- Downtown Crossing
Permanent · BOSTON
PRIMARK
Visual Merchandising Manager-Concord Mills
Permanent · CONCORD
PRIMARK
Visual Merchandising Manager - Crossgates
Permanent · ALBANY
PRIMARK
Visual Merchandise Manager- Jersey Gardens
Permanent · ELIZABETH
PRIMARK
Visual Merchandise Manager- Green Acres
Permanent · NEW YORK
PRIMARK
Visual Merchandise Manager- Walden
Permanent · BUFFALO
PRIMARK
Visual Merchandise Manager- Woodfield Mall- New Store
Permanent · SCHAUMBURG
SACKS
Vendor Compliance Analyst
Permanent · WILKES-BARRE
SACK OFF 5TH
Asset Protection Investigator
Permanent · BOCA RATON
UNDER ARMOUR
Stock Lead, ft
Permanent · WOODSTOCK
By
Reuters API
Published
May 5, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

EssilorLuxottica sales slump on coronavirus hit, worst yet to come

By
Reuters API
Published
May 5, 2020

Oakley and Ray-Ban maker EssilorLuxottica reported a slump in first-quarter sales on Tuesday and warned of an even bigger hit in the current quarter as the coronavirus outbreak prompted store closures.


Reuters



The eyewear company, which previously suspended its dividend and scrapped its 2020 outlook due to the pandemic, said revenue had declined further in April.

“Second-quarter revenue and profitability will still be negatively impacted by the crisis, and more severely so than in the first quarter,” it said.

The company’s first-quarter sales fell 10.1% from a year earlier to 3.78 billion euros ($4.12 billion).

EssilorLuxottica, which is both a manufacturer and a retailer with a vast shop network, confirmed it could propose a special dividend before the end of 2020 if the recovery after the end of the outbreak is solid.

The company, which makes eyewear for luxury brands such as Chanel, Prada, and Versace, said that sales of prescription glasses were more resilient than sunglasses in China in the first quarter.
Lockdowns aimed at curbing the spread of the virus are forcing people to stay at home, reducing demand for sunglasses.

“Worldwide needs for better vision are structural and likely to fuel pent-up demand when the crisis fades,” the company said.

The company, the result of a merger between French lens makes Essilor and Italian spectacles maker Luxottica, added that sales in China of prescription lenses returned to growth since the end of April as the country returns to normality.

Opticians group GrandVision, for which the company has made a 7.2 billion euro bid which prompted antitrust scrutiny, also reported a decline in first-quarter sales of 4.4% at constant currencies due to the virus.

The Dutch company added that it would revise its 2019 dividend proposal.

© Thomson Reuters 2022 All rights reserved.