This update was written automatically with AI from market data and news wire reports, and published without review by a person.
Key Takeaways
- EssilorLuxottica (EL) reported Q3 revenue of EUR 7.49 billion, exceeding analyst estimates of EUR 7.37 billion, driven by a 7.2% increase in constant-currency sales.
- Carrefour (CA) lowered its full-year 2026 financial targets, citing "unprecedented" disruption from widespread civil unrest and looting in France that impacted roughly 50 stores.
- U.S. Secretary of State Marco Rubio confirmed that oil transit through the Strait of Hormuz has returned to near pre-war levels, signaling a stabilization in global energy supply routes.
- Smart glasses growth for EssilorLuxottica slowed significantly to 20% in Q3, a sharp deceleration from the nearly 100% growth seen in the previous quarter.
EssilorLuxottica Outperforms Despite Smart Glasses Slowdown
Eyewear giant EssilorLuxottica (EL) posted a strong third-quarter performance, with total revenue reaching EUR 7.49 billion. The group's 7.2% revenue growth at constant exchange rates surpassed the 6.3% projected by analysts, supported by robust demand in North America (EUR 3.20 billion) and double-digit growth in the Asia-Pacific region.
However, the company faced a notable cooling in its high-tech segment. Sales of smart glasses, which include the Ray-Ban Meta collection, grew by 20%—a significant drop from the triple-digit momentum seen earlier in the year. Management attributed the slowdown to a challenging year-over-year comparison and a broader stabilization of the category after its initial rapid expansion.
French Unrest Forces Carrefour to Trim 2026 Outlook
Carrefour (CA) reported Q3 sales of EUR 22.69 billion, slightly ahead of the EUR 22.58 billion estimate. Despite a 2.3% increase in like-for-like sales, the retailer was forced to cut its 2026 financial guidance due to severe social and security disruptions in its home market. The company now expects Recurring Operating Income (ROI) margin growth of 0 to 15 basis points, down from the previously targeted 25 basis points.
The retailer disclosed that approximately 50 stores were directly impacted by recent riots and looting, resulting in tens of millions of euros in damages and lost merchandise. The ongoing instability has dampened consumer confidence and forced many locations to operate under restrictive curfews, further pressuring the group's net free cash flow and adjusted earnings per share.
Geopolitical Stability Returns to the Strait of Hormuz
In a significant update for global energy markets, U.S. Secretary of State Marco Rubio stated on Tuesday that oil volumes transiting the Strait of Hormuz are now "nearly equal" to levels seen before the recent conflict. Rubio noted that between 13 million and 14 million barrels of oil are currently passing through the waterway daily, protected by international maritime security efforts.
The normalization of these flows comes as a relief to global markets that had braced for prolonged supply shocks. While tensions in the region remain elevated, the recovery of transit volumes suggests that the immediate threat to physical oil supplies has been mitigated, even as the U.S. continues to enforce strict sanctions on Iranian exports.
Automated market updates written with AI from market data and news wire reports, published without human review.