EssilorLuxottica Reports 8.6% Revenue Growth in Q1 2023
EssilorLuxottica announced first-quarter 2023 revenue of Euro 6,151 million, an increase of 8.6% year-on-year at constant exchange rates. All regions and channels contributed to the performance.
EssilorLuxottica reported consolidated revenue of Euro 6,151 million for the first quarter of 2023, marking an 8.6% increase compared to the same period in 2022 when measured at constant exchange rates. The company noted a 9.7% increase at current exchange rates.
The eyewear giant stated that growth was broad-based, with all geographical regions and sales channels contributing to the positive results. North America and EMEA regions saw high single-digit growth, while Asia-Pacific and Latin America experienced double-digit increases. The company also highlighted that all regions showed accelerating performance compared to the fourth quarter of the previous year.
Comparable store sales increased by a high single-digit percentage, with former Grand Vision (GV) banners outperforming. The company's leadership emphasized the importance of achieving this growth alongside its sustainability objectives.
EssilorLuxottica also reaffirmed its commitment to setting science-based emissions reduction targets. The company announced an agreement with ERG for the supply of wind-generated electricity in Sicily, covering half of its energy needs in Italy. These initiatives are part of its strategy to achieve carbon neutrality in Europe this year and globally by 2025.