(Reuters) -Luxury eyewear maker EssilorLuxottica on Thursday reported third-quarter revenue of 6.3 billion euros ($6.68 billion) with Asia-Pacific sales growth of 11.75% bolstered by China.
The third quarter was a "slight deceleration" compared to the first-half due to a weaker sun (glasses) retail business in the EMEA region and North America, the Ray-Ban owner said in a statement.
"As one would typically find in a slower market, optical leads while sunglasses lag," said Bernstein in a note following publication of EssilorLuxottica's results.
Shares of luxury goods companies have come under pressure as cash-strapped consumers cut spending on high-end goods, while growth has also been slowing in China.
French luxury company LVMH (EPA:LVMH) last week reported slower sales growth in the third quarter.
"China was the best performing country effectively leveraging its myopia control portfolio in the back-to-school season," EssilorLuxottica said, adding that the country's retail performance continued to be "favourable".
EssilorLuxottica reiterated its 2023 target of "mid-single-digit annual revenue growth" from 2022 to 2026 and an operating profit representing 19% to 20% of revenue by the end of that period.
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