Growth lowers profit margin GrandVision

Dutch GrandVision, which owns chains like Pearle and Eye Wish, has seen its turnover increase further in the first quarter of 2019. Its profit margin however felt the pressure of the rising costs.

Turnover growth

The company’s turnover rose 6.7 % tot 974 million euros. The company grew in all the regions in which it is active, but mostly so in South America and Asia (+ 7.9 %). However, operationalprofit was only 0.2 % higher than the year before as a new management in the Benelux and increased staffing costs meant extra costs.

GrandVision confirms its earlier target of a 5 % turnover growth, but says it needs both existing and new stores – and possibly more acquisitions – to achieve that figure. Recently the group already acquired Spanish chain Optica 2000 in and Charlie Temple.