MILAN — Still reeling from “an extremely difficult January and February,” Luxottica Group SpA posted a 12.7 percent drop in net profits to 115.7 million euros, or $158.5 million, in the second quarter, compared with 132.6 million euros, or $181.6 million, in the same period the previous year.
However, a well-balanced brand portfolio and the performance of the Ray-Ban and Oakley brands in both their sun and optical businesses helped drive sales up 3.5 percent to 1.4 billion euros, or $1.92 billion, compared with 1.34 billion euros, or $1.84 billion, in the second quarter last year. Currency conversions were made at average exchange for the respective periods.
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)