Luxottica Group SpA, the world’s largest eyewear maker, reported record full-year profit as sales of Ray- Bans and other frames surged in North America. Adjusted net income rose 11 percent to 687.4 million euros ($768 million), the Milan-based company said Monday after European stock markets closed. Analysts predicted 686.3 million euros, according to the average of 10 estimates compiled by Bloomberg.

Luxottica plans to double sales to 15 billion euros in the next 10 years, it said in January after reporting fourth-quarter revenue that rose faster than predicted.

Read more

Source: http://www.businessoffashion.com/