Luxottica increased wholesale and retail revenues in 3Q

Luxottica’s retail division revenues were euro 1,099 million for the period, reflecting a 3.3% decline from euro 1,137 at current exchange rates, but an improvent in net income for the period, Mr Guerra said, citing strong double-digit comparable store sales for Sunglass Hut and single-digit improvent for North American retail.”We are very satisfied with the third quarter’s performance and the systatic growth we have been pursuing with determination since the beginning of the year, recording a 7.4% increase in sales at constant exchange rates and increased profitability supported by constant efficiency gains,” Guerra said.”We have further reduced our net debt due to excellent free cash flow of euro 295 million generated in the quarter.”Europe is in excellent shape with results exceeding expectations (+15.1%) and with outstanding performances in Germany, France and the Nordics. Italy continued its positive growth trend and Spain is back to growth, recording an increase of 11.3%. erging market countries continue to be a source of enormous satisfaction, recording sales increases of 19% at constant exchange rates. North America is also a structurally growing market as a result of an excellent brand portfolio and our efficient organisation.”Net income for the third quarter of 2013 increased by 7.9 to euro 148 million, compared to euro 137 million in the third quarter of 2012. In the first nine months of 2013, adjusted net income reached euro 525 million, growing 10.5% compared to euro 475 million in the same period of 2012.