EssilorLuxottica falls as North America drags Q1 revenue

Shares of Ray-Ban maker EssilorLuxottica ESLX.PA fall 2.8% after it published Q1 results on Wednesday, posting a revenue miss as revenue in North America missed expectations

The Franco-Italian group reported Q1 revenue of 6.85 billion euros ($967.13 million), below expectations that stood at 6.91 billion euros according to LSEG data

The co also announced it was implementing measures including U.S. price increases to manage the impact of import duties in that country

The co makes about 43% of its revenue base in the U.S

"The print confirmed what we see as some of the key risks in EL's investment case in the current context: a potentially slowing North American market tariff risk and FX impact," UBS writes

EssilorLuxottica's stock is up 6.2% year-to-date

($1 = 0.8789 euros)