MILAN — Italian eyewear giant Luxottica Group SpA forecast a 16 percent drop in 2008 earnings after revenues slowed in the fourth quarter, and anticipates a challenging year.
Luxottica, which has licenses with Chanel, Dolce & Gabbana, Prada and Versace, among others, said Thursday it expected net profits in 2008 of about 400 million euros, or $588.5 million, and cut its earnings-per-share forecast to 0.88 euros, or $1.14, from previous guidance of between 0.96 euros, or $1.24, and 0.98 euros, or $1.27. Both estimates exclude extraordinary items tied to a real estate transfer and the sale of a minor business, respectively.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)