Essilor increases revenue in 2017

Essilor International increased its first quarter revenue by 10%, according to a press release from the company.

Like-for-like sales growth was up 2.4%, with lenses and optical instruments up 2.8%, sunglasses and readers down 2.2%, and equipment up 7.3% for the first quarter.

Growth in the U.S. could be attributed to new offers for members of service platforms such as Vision Source, PERC/IVA and Optiport, the company said. E-commerce sales in the U.S. increased by about 10% due to sales from EyeBuyDirect, sold delivery from Frames Direct and improved trends in Clearly.

Sunglasses and readers sales were down due to a new contract for FGX International in the first quarter of 2016, resulting in unfavorable comparison, Essilor reported.

New products launched over the last few months benefited equipment sales.

“The performance from the beginning of the year has been in line with our annual plan, supported by improved growth in the U.S. and China and the contribution from acquisitions, despite an anticipated decline in the sunglasses and readers division,” Hubert Sagnières, international chairman and CEO at Essilor, said. “The deployment of growth initiatives across our businesses in corrective lenses, sun wear and e-commerce, along with the launch of new products, should lead to renewed momentum in the coming quarters.”

Due to the progressive nature of initiatives, Essilor said it expects a higher level of growth in the second half of the year.