EssilorLuxottica Reports Revenue Down 10% for First Quarter

Wednesday, May 6 2020 | 14 h 36 min | Financial News, Press Release

EssilorLuxottica today announced that consolidated revenue for the first quarter of 2020 totalled Euro 3,784 million, representing a year-on-year decline of 10.1% compared to Q1 2019 revenue, revealing good resistance in the current unprecedented global crisis.

“The market is going through an unprecedented crisis and we have answered the call as a leader with a responsibility to everyone whose lives we touch. Leading by example during the COVID-19 pandemic, we are working hard to keep our employees and their families safe, provide essential vision care for emergency workers on the front lines and do our part to support the customers and partners who make up the lifeblood of our business.

While we are adapting the organization for the few months ahead, early experience from the first countries to open is encouraging. When the crisis fades, the resilient demand for better vision will be visible again and we will be ready to serve it.

The digitally powered network that we have worked hard to build, connecting more than 400,000 optical stores and labs, can now guarantee the best support to our customers and an open door for all consumers even in the most difficult times.

This combination of social and business leadership will strongly help EssilorLuxottica and the entire industry when a wider recovery materializes. Until then, we continue to sharpen our digital assets, feed our consumers’ love for brands and build on our talents”, commented Francesco Milleri, CEO and Deputy Chairman of Luxottica, and Paul du Saillant, CEO of Essilor.

Click HERE for the full press release.