lfm1001

Luxottica Group SpA on Thursday posted a 21% increase in first-quarter profit, Tiffany Cushion by a sales rebound in the U.S. The performance was spurred by strong growth of premium brands, said Chief Executive Andrea Guerra, whose company owns the Ray-Ban and Oakley brands and makes eyewear under license for luxury labels such as Burberry Group PLC, Prada SpA and Tiffany & Co. "Tiffany Frank Gehry Fish drop earrings luxury segment suffered a lot in 2008 and 2009 but it's been recovering very well for the past 24 months, which brings a lot of value," he said. The company reported net profit of [euro]114.7 million, up from [euro]95.1 million a year earlier, while sales rose 12% to [euro]1.56 billion from [euro]1.39 billion. Revenue rose 9.2% Tiffany Frank Gehry Fish earrings foreign currency effects were excluded. The company's wholesale division posted revenue gains of 16%, with a whopping 28% increase in North America, Luxottica said. Revenue at the retail division rose 9.2%. Comparable-store sales at Sunglass Hut, the company's core chain, rose 7.9% globally and an even faster 10.2% in the U.S. "Having the Tiffany Elsa Peretti Open Heart bracelet  consumer back in the game is great news," Mr. Guerra said. He praised Luxottica's stable of brands as proving particularly hot in the U.S. but also noted Luxottica is reaping benefits from past efforts to speed delivery and boost customer service. Similar efforts in its home country led to an 8% boost in sales in the first quarter, even though overall retail sales in Italy have been flat. While hailing Luxottica's display of brand power in the U.S. and in emerging markets--the company opened its first Sunglass Hut stores in Brazil and China this month--Mr. Guerra said he "doesn't want to be dependent on one-time exploits."