Turnover of Essilorluxotica fell in the third quarter despite lockdown easing

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The turnover of the Franco-Italian retailer of spectacles and lenses Essilorluxotica fell again in the third quarter because of the COVID-19 crisis. But the blow was much less than in the first half of the year, when the lock-down measures shut down many shops. Far fewer glasses and lenses were sold.

EssilorLuxottica put a turnover of just over 4 billion euros in the measurement period. That’s 1.1% less than a year earlier. As far as regions are concerned, the group has been hit hardest in Latin America in recent months, due to the continuing corona impact. In Europe and the United States there was even a small increase in yields.

In recent months, EssilorLuxottica has found that the demand for optical products has “structural resilience”. The coming months will be viewed with a cautious confidence, as it is not clear how corona will develop further and how large the pent – up demand in the eye care and spectacles industry is.

EssilorLuxottica does not mention the takeover of the Dutch branch Regent GrandVision in the trade report on Tuesday. The latter did so recently in his trade report. The two sides face each other in two cases in court after Essilorluxotica accused GrandVision of not wanting to give insight into what the company was doing to withstand the COVID pandemic. A first case was won by the Dutch company. The takeover deal is still planned.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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