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 The fourth quarter of 2011 confirmed the Luxottica growth trend experienced in all geographic areas throughout the year. The strong results achieved are due to the strength of the Group’s brand portfolio, the effectiveness of the various initiatives executed by Luxottica's businesses and a positive relationship with customers and consumers.
"2011 was a particularly important year in the history of Luxottica," commented Andrea Guerra, Chief Executive Officer of Luxottica. "On the one hand, we celebrated our 50th anniversary; on the other, we laid the foundation for lasting growth in the future as well. This trend is supported by our performance so far in 2012, both in terms of net sales and the orders portfolio. "2012 is expected to provide a wealth of opportunities for Luxottica which we believe will yield even further growth. We will continue to be simple and fast, to act decisively in all the areas where we are present, relying on our brand portfolio, our people, our investments in culture and technology and on our capacity to create even stronger relationships with customers and consumers. This approach will lay the foundation for continued improvement in terms of both net sales and profitability."
Luxottica's results improved during the fourth quarter of 2011 in North America, a key region for the Group, where consumer confidence continues to stay at strong levels. Net sales in U.S. dollars in the fourth quarter of 2011 increased by more than 9.0%. Both the Retail and Wholesale Divisions made essential contributions to results, with sales in Wholesale up by 17.0% and in Retail increasing 7.7% over the prior period in 2010. In Retail, LensCrafters and Sunglass Hut recorded the best results for the holiday season with comparable store sales for the fourth quarter of 2011 growing by approximately 5.0% for LensCrafters and by more than 12.0% for Sunglass Hut.
For the Retail Division in Australia, comparable store sales for the "optical" business grew by approximately 10% in the fourth quarter of 2011, confirming the trend seen throughout the year. The trend in Australia was positive, due in part to the measures implemented by management during recent quarters. Comparable store sales of OPSM rose by 10.2% in the fourth quarter of 2011. Positive trends in comparable store sales have also been recorded in all fast growing markets in which the Retail Division operates, like China, South Africa and the Middle East.
Net sales for the Retail Division in the fourth quarter of 2011 were Euro 952.9 million (+12.7% at constant exchange rates and +14.4% at current exchange rates). For the full year, net sales were up by 5.7% at current exchange rates to Euro 3,766.1 million (+9.1% at constant exchange rates).
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