×
119
Fashion Jobs
LEVI'S
Associate Sap Ptp Business Analyst
Permanent · Bengaluru
SHREE HR SERVICES
Retail Sales Executive
Permanent · Varanasi
INFINIX
National Sales Manager
Permanent · MUMBAI
RELIABLE CLOTHING PVT. LTD
Production Manager - Garment Manufacturing Export House
Permanent · Mumbai
KAZO FASHION PRIVATE LIMITED
Garment Technician
Permanent · Noida
OUTHOUSE JEWELLERY
E-Commerce Manager
Permanent · NOIDA
GOKALDAS EXPORTS
Manager - Fabric Warehouse - Garments Background - Bhopal, mp
Permanent · Bhopal
INFINIX
Field Sales Officer
Permanent · MUMBAI
RETAG RESELLING LUXURY
Sales And Consignment Manager
Permanent · DELHI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Quality Manager / Quality Head - Garments Manufacturing Company
Permanent · Navi Mumbai
GOKALDAS EXPORTS
Manager - Production - Garments Background - Krishangiri, tn
Permanent · Krishnagiri
GOKALDAS EXPORTS
Manager - Fabric Stores - Garments Background - Krishnagiri, tn
Permanent · Krishnagiri
LEVI'S
Servicenow Business Analyst
Permanent · Bengaluru
FAARBE
Fashion Merchandiser
Permanent · INDORE
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
PUMA
Senior Manager- Trade Compliance
Permanent · Bengaluru
PUMA
Manager Merchandising
Permanent · Bengaluru
PUMA
Project Manager- Operations
Permanent · Bengaluru
PUMA
Manager- Logistics Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
PUMA
Senior Manager Trade Compliance
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
By
Reuters
Published
Mar 14, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Italy eyewear maker Luxottica net down, no dividend

By
Reuters
Published
Mar 14, 2009

MILAN, March 12 (Reuters) - Italian eyewear maker Luxottica Group SpA (LUX.MI) posted a 17.6 percent drop in 2008 net profit on Thursday March 12 and said it would not propose a dividend for now.


visuel Luxottica

Luxottica, which makes glasses and sunglasses for brands such as Ray-Ban and Prada, had net profit of 395 million euros ($504.7 million). It called 2008 "particularly challenging" as demand slowed and the depreciation of the dollar weighed.

Its earnings-per-share (EPS) was 0.87 euro, it said in a statement. Last month, it cut its EPS forecast to that level from 0.96 to 0.98 euro.

Last month, Luxottica posted a 4.7 percent rise in 2008 net sales to 5.2 billion euros, mainly from inclusion of U.S. brand Oakley which it bought in 2007.

"To further strengthen the Group's equity structure and have sufficient resources to be able to capitalize on new opportunities that arise, the Board deemed it not appropriate to propose to shareholders, for the time being, the payment of a dividend," Luxottica said.

The matter would be deferred to a possible shareholders' meeting in the second half of the year.

Luxottica said it planned to reduce store numbers worldwide by 2-3 percent and seek to reduce inventories by 10-15 percent.

"We have already implemented a series of measures that will enable us to rapidly and flexibly adapt to the new environment and that will both contribute to boosting sales and streamline our cost structure across all divisions and geographic regions," Chief Executive Andrea Guerra said in the statement.

Rival Safilo SpA's (SFLG.MI) net profit fell 71.3 percent last year to 14.6 million euros, as demand slowed and high production costs in Italy also weighed. Luxottica shares closed up 2.98 percent at 11.05 euros before the statement came out. ($1=.7826 Euro) (Reporting by Marie-Louise Gumuchian; Editing by Andre Grenon)

© Thomson Reuters 2022 All rights reserved.