PARIS (dpa-AFX) - French ophthalmic company EssilorLuxottica SA (ESLOF.PK, ESLOY.PK) reported Tuesday that its first-quarter consolidated revenue was 3.78 billion euros, down 10.1 percent from last year's 4.21 billion euros. Revenues dropped 10.9 percent at constant exchange rates. Revenue declined in all regions and segments.
The company recorded solid growth up to February, followed by material declines in March due to COVID-19.
Essilor revenue declined 6.5 percent from last year to 1.76 billion euros, and Luxottica revenue fell 13 percent to 2.02 billion euros.
Luxottica Retail revenue was down 9 percent year-on-year.
Regarding the current trading, the company said group revenue declined further in April. Online sales staged an acceleration since March, when they reached 7 percent of group revenue versus 5 percent for the quarter, and they increased further in April.
Looking ahead, the company, which withdrew its fiscal 2020 outlook in March, now said it is likely that second quarter revenue and profitability will still be negatively impacted by the crisis, and more severely so than in the first quarter.
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