Pursuits
Luxottica Falls in Milan After Lowering Earnings Growth Outlook
- Ray-Ban maker lowers target, plans $1.6 billion in investments
- Adjusted 2015 net income trails analysts' predictions
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Luxottica Group SpA fell in Milan after the Ray-Ban maker sunglasses curbed its earnings growth outlook as it invests more than 1.5 billion euros ($1.6 billion) to revitalize and expand its business.
Net income will increase at least 1.5 times the pace of sales each year through 2018, Milan-based Luxottica said late Tuesday after European markets closed. The company’s goal for the past six years has been twice as fast. The shares fell as much as 6 percent.