EssilorLuxottica withdraws 2020 outlook

EssilorLuxottica has withdrawn its outlook for 2020 that was published as part of its full year financial results on March 6 stating that it is no longer valid in light of the coronavirus (Covid-19) pandemic.

The company explained that following growth in January and February, business began to deteriorate in March as coronavirus spread across the world.

It expects revenue in the second quarter of the year to further decelerate and said that it cannot currently provide an assessment of the pandemic’s impact.

Essilor has temporarily closed all its industrial sites in France but shared that production continuity is ensured because of its worldwide network, including facilities in China that are operating again.