Luxottica Second-Quarter Profit Jumps 28 Percent on Strong Demand

WASHINGTON (AP) -- Luxury eyewear maker Luxottica Group SpA said Thursday second-quarter earnings rose nearly 28 percent on strong wholesale demand for sunglasses it makes for such fashion houses as Bulgari, Chanel and Dolce&Gabbana.

The Milan-based company reported earnings rose to 154.6 million euros ($208.4 million), or 34 euro cents per American Depositary Share (45 cents), compared with 121.2 million euros, or 27 euro cents per ADS, a year earlier.

Revenue rose to 1.33 billion euros ($1.79 billion) from 1.23 billion euros in the prior-year period on strong growth in the company's wholesale and retail operations.

Luxottica Group's brands include Ray-Ban and Chanel. Luxottica Retail, which comprises the Cole National operations, is the holding company for the LensCrafters optical chain, Sunglass Hut, Watch Station, and Watch World, and the EyeMed Vision Care group.

- Surfeyes.com