Optician group GrandVision’s third quarter turnover grew 3.9 % to 858 million euro. That represented a 3.1 % like-for-like turnover growth and its profit also spiked.
Setback in the US, strong performance in France
GrandVision’s third quarter performance was slightly better than its second quarter’s and it averaged a 3.3 % turnover increase (and a 2.6 % like-for-like turnover increase) over its first three quarters. Its store network grew from 6,516 to 6,709 stores.
Its US profit is still lagging behind, mainly because of the bad weather in the region. Its G4 turnover (including Belgium) grew 3 %, but there was only a 1.8 % like-for-like turnover increase. The British pound did negatively affect the turnover growth, because it would have otherwise been a 4.1 % growth. GrandVision performed particularly well in France, despite a 2.1 % market slump in the first nine months of the year.
The company did forecast a weaker fourth quarter, due to the fewer days of sales compared to the year before. The altered holiday season will have its impact in that sense.
