Luxottica profit falls 21% in Q3
Milan, Italy Eyewear maker Luxottica Group said third-quarter profit fell 21% as the demand for luxury goods declined in the United States.
The company also reported that its net income declined to 83.1 million euros ($133.8 million) from 104.6 million in the quarter, while sales rose 0.9% to 1.22 billion euros.
Meanwhile, same-store sales at LensCrafters and Pearle Vision retail brands in North America fell 5.3% in the quarter and Sunglass Hut sales worldwide fell 5.6%.
In 2010, Luxottica said it expects double-digit growth in emerging markets and gradual improvements in Western market.
Macy’s boosts ‘Believe’ campaign
NEW YORK Macy’s announced that it is expanded its “Believe” campaign this holiday season to support the Make-A-Wish Fundation.
This year, the retailer is launching a national Santa Tour, an honorary National Believe Day, a “Yes, Virginia” animated special, a new TV commercial featuring Queen Latifah, and an interactive Believe Web site at macys.com/believe.
“Macy’s Believe effort really inspired people last holiday, and customers and communities across the country responded in a big way,” said Peter Sachse, Macy’s chief marketing officer. “Not only did we collect more than a million letters and hit our $1 million goal for the Make-A-Wish Foundation, but we saw wonderful and unexpected examples of schools and communities coordinating letter drives to help support this effort. To build on that excitement this year, Macy’s Believe campaign will layer on new elements including taking Macy’s Santa on tour, designating a special Believe Day to celebrate the holiday spirit, and premiering a new animated holiday special that tells the ‘Yes, Virginia’ story. This holiday, America will be inspired to Believe again.”
Report: B&N says consolidation key to business health
During an investor presentation on Oct. 27, Barnes & Noble said that in order to survive its stores need to do well in addition to its online division.
According to Publishers Weekly, executives spoke of consolidation and how this would help the health of the business. The book retailer currently operates 700 superstores. Taking steps toward reducing the number of stores, B&N will close all of its Dalton outlets by the end of January.