LUXOTTICA'S QUARTER NET RISES 23.9%

AGORDO, Italy--Luxottica Group SpA reported second-quarter earnings rose 23.9 percent to $19.3 million (30.9 billion lire), as sales advanced 23.1 percent to $129.1 million (207.3 billion lire.)
A year earlier, the eyewear maker posted a second-quarter profit of 24.9 billion lire on sales of 168.4 billion lire.
In the half ended June 30, profit gained 25.1 percent to $37.3 million (61.3 billion lire), with a sales increase of 23.2 percent to $253.1 million (416 billion lire). In 1993's first half, Luxottica reported earnings of 49 billion lire and sales of 337.7 billion lire.
Currency conversions used here are those provided by Luxottica based on average exchange rates during the periods.
The firm noted that in the U.S., its sales of frames were up 3.7 percent in units and gained 6.1 percent in dollar terms. The U.S. accounted for 39.2 percent of total consolidated revenues.
Worldwide, sales of frames in the six months gained 15.7 percent in units to reach more than 6.6 million units, outpacing market growth and thus increasing Luxottica's market share, pointed out Leonardo Del Vecchio, chairman.
Designer frames accounted for 53.5 percent of sales in the half. The firm produces eyeglass frames under designer trademarks, including Giorgio Armani, Emporio Armani, Yves Saint Laurent, Valentino, Byblos and Brooks Bros. and under its own trademarks. Del Vecchio added that Luxottica continues to focus on geographical expansion. The company opened a subsidiary in Austria and one in Finland this year and is evaluating other markets where its products are sold by independent distributors.
--Fairchild News Service

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