January 22, 2019 / 8:59 AM / in 3 months

Dutch eyewear retailer GrandVision sees sales slowdown

AMSTERDAM (Reuters) - Dutch optical retailer GrandVision (GVNV.AS) said on Tuesday fourth-quarter comparable sales growth slowed to 4.4 percent from 8.1 percent a year earlier, citing lower revenue from franchises and newly opened stores.

France was the best performing market, with strong sales in

October, the Amsterdam-based company said, although this “was partially reduced by a weaker year-end performance due to the yellow vest protests in November and December.”

It cut adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) growth forecasts to 5-7 percent for the full year, from earlier estimates of growth in the “high single digits.

Shares fell 2.0 percent to 18.50 euros in early trading.

GrandVision is due to report full fourth quarter earnings on Feb. 27.

Reporting by Toby Sterling, editing by Louise Heavens

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