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Essilor confirms 2017 outlook, expects further progress on Luxottica deal

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Essilor confirms 2017 outlook, expects further progress on Luxottica deal

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PARIS (Reuters) – Eyewear group Essilor <ESSI.PA>, which is in the process of merging with Italian peer Luxottica <LUX.MI>, confirmed its 2017 outlook on the back of stronger sales in the third quarter. Essilor, the world’s biggest opthalmic lenses manufacturer, said sales in the quarter ended September were up 2.5 percent on an organic basis to 1.75 billion euros ($2.1 billion). Analysts polled by Reuters had on average been expecting revenues of 1.77 billion euros. Sales in North America were up 2.3 percent to 658 million euros despite the passage in September of hurricanes such as Irma which led to several shop closures in the United States. Essilor said it was expecting to make “major strides” by the end of the year in its proposed tie-up with Luxottica, a $54 billion transaction currently being invested by the European Commission over competition concerns. ($1 = 0.8501 euros)

(Reporting by Matthias Blamont; Editing by Sudip Kar-Gupta)
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