JP Morgan predicted fresh economic turbulence from Friday’s Supreme Court ruling nixing President Donald Trump’s emergency tariffs, warning Uncle Sam could be forced to refund as much as $200 billion to US businesses.One of the bank’s top researchers on economic policy, Michael Feroli, warned the decision could still spark heightened trade uncertainty and stunt business spending even as Trump administration officials vowed to revive the duties using other laws.“The Court’s ruling remanded this issue (of ref ...

Business celebrates win over Trump tariffs, but refunds will take time | ReutersSkip to main content[Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv]Item 1 of 2 A semi-truck drives past Chinese shipping containers at the Port of Los Angeles in Wilmington, California, U.S., November 5, 2025. REUTERS/Mike Blake/File Photo[1/2]A semi-truck drives past Chinese shipping containers at the Port of Los Angeles in Wilmington, California, U.S., November 5, 2025. REUTERS/ ...

(Bloomberg) -- European stocks rose following a slate of positive results, including from BAE Systems Plc and Puig Brands SA. The Stoxx Europe 600 Index was up 0.5% at 9:16 a.m. in Paris. Mining and industrial shares were leading gains, while chemicals were among the biggest laggards. BAE Systems gained 5% after the defense firm predicted continued solid sales and earnings growth for the year after a record 2025. Puig climbed 6% after its like-for-like revenue beat analyst estimates. EssilorLuxottica SA fel ...

Market Overview - European stocks are expected to open lower, with the U.K.'s FTSE index projected to decline by 0.2% and Germany's DAX, France's CAC 40, and Italy's FTSE MIB anticipated to drop by 0.4% [1] - Regional markets experienced a slight increase on Monday as investors processed comments from the Munich Security Conference [1] Earnings Focus - Investors are closely monitoring earnings reports, with companies such as Antofagasta, BHP Group, InterContinental Hotels Group, and EssilorLuxottica set to report on Tuesday [2] - Key data releases include German inflation, economic sentiment, and U.K. unemployment figures [2] Asian Market Activity - Asian financial markets are exhibiting caution due to holiday-thinned trading, with major markets in mainland China, Hong Kong, Singapore, Taiwan, and South Korea closed for Lunar New Year holidays [3]

Core Insights - EssilorLuxottica reported a significant increase in sales of Meta AI glasses, with over 7 million units sold in the last year, a substantial rise from 2 million sold in 2023 and 2024 combined [1][2] Group 1: Sales Performance - The sales figure includes smart glasses sold under the Ray-Ban and Oakley brands, indicating a growing consumer adoption of wearable AI devices [2] - The company's success in wearables is seen as a driving force behind the AI-glasses revolution, leveraging its iconic brands to boost demand [2] Group 2: Product Development - EssilorLuxottica has collaborated with Meta on wearable devices since 2019, launching the first edition of the glasses in September 2021, which gained more attention with the second-generation launch in 2023 [3] - The latest Ray-Ban iteration, introduced in September, features hand gesture control and neural technology, retailing at $799 [4] Group 3: Future Production Plans - Discussions are underway between Meta and EssilorLuxottica to potentially double production to at least 20 million units by the end of the year to meet increasing demand [5]

Core Insights - EssilorLuxottica achieved annual double-digit sales growth for the first time, with Q4 revenue increasing by 18.4% and full-year revenue growing by 11.2% at constant currency [2][6] - The company reported an adjusted operating margin of 16.0% for the fiscal year, despite challenges from US tariffs and investments in AI-glasses [6] - Record free cash flow reached Euro 2.8 billion, which is Euro 400 million higher than the previous year [6] Financial Performance - Group's revenue totaled Euro 28,491 million for the fiscal year, reflecting an 11.2% increase at constant exchange rates, with Q4 showing an 18.4% growth [6] - The adjusted operating margin was impacted by US tariffs and the introduction of AI-glasses, yet remained at 16.0% [6] - A proposed dividend of Euro 4.00 includes a scrip dividend option [6] Market and Product Insights - AI-glasses sales exceeded 7 million units in the fiscal year, with contributions from all regions and brands [6] - The myopia management portfolio saw a 22% increase in revenue globally, with strong expectations for the US market [6] - Nuance Audio launched successfully in 12 markets and 15,000 retail locations worldwide [6] Strategic Outlook - The company is committed to solid revenue growth over the next five years, with adjusted operating profit growth expected to align closely [4][6] - The leadership emphasized the importance of innovation and resilience in navigating a challenging macroeconomic environment [2][4]

Company Overview - Warby Parker Inc. provides eyewear products in the United States and Canada, focusing on higher-income customers and essential vision correction needs [2] Market Conditions - The company is navigating a softer consumer backdrop with relative resilience, particularly among older and progressive-lens customers, while younger consumers show more pronounced weakness [2] - This pressure is expected to be temporary, with vision care benefiting from an anticipated 35% increase in tax refunds, amounting to approximately $125 billion in one-time stimulus between February and May 2026 [3] Sales and Revenue Growth - Comparable sales trends have improved, with productivity-backed comps showing consistent two-year acceleration, and retail productivity reaching record levels [3] - A growing in-network insurance footprint, including the addition of Versant, provides a near-term revenue tailwind, especially in the fourth quarter when vision benefits are typically utilized [4] Margin and Cost Structure - Margins are expected to improve as tariff pressures ease and fixed costs leverage, despite current gross margin compression due to investments in optometrists and eye exam capacity [5] - Incremental economics remain attractive due to the low unit cost of frames and lenses, with SG&A expected to leverage meaningfully as non-marketing spend remains modest [5] Strategic Initiatives - Warby Parker is emerging as a leader in intelligent eyewear through partnerships with Google and Samsung, supported by significant capital commitments and product development [6] - The current stock valuation offers strong downside support and a compelling upside scenario driven by improving comps, margin expansion, AI-enabled products, and upcoming tax-related demand catalysts [6]

Group 1 - The company will hold a conference call to discuss its Full-Year 2025 results on February 11, 2026, at 6:30 pm CET [2] - Participants must pre-register to receive dial-in credentials for the conference call [2] - A live webcast of the presentation will be available, and the press release will be published at 6:00 pm CET on the same day [3]

Core Insights - The weakening of the U.S. dollar against the euro negatively impacted Safilo Group's revenues in the past year [1] - Preliminary sales declined by 1 percent to 983.4 million euros, but increased by 1.8 percent at constant exchange rates [1] Sales Performance - In Q4, sales decreased by 4.6 percent to 225 million euros, with a slight increase of 0.4 percent at constant exchange rates [2] - North American sales fell by 7 percent, but grew by 1.5 percent at constant exchange, driven by wholesale performance [3] - European sales edged down by 0.1 percent, influenced by lower volumes from a product supply agreement and the deconsolidation of the Lenti business [4] - Asia-Pacific sales saw a significant decline of 17.4 percent, translating to an 11.5 percent drop in constant currencies [5] Growth Drivers - The leadership of Smith's sports products in the U.S. and the strengthening of the contemporary and lifestyle portfolio were key growth drivers [3] - Brands such as Carrera, David Beckham, Tommy Hilfiger, Marc Jacobs, Boss, Kate Spade, and Carolina Herrera contributed significantly to growth across key markets [3] Margin and Cash Generation - The company reported continued improvement in margins and strong cash generation, attributed to mitigation actions against tariff pressures and favorable price/mix dynamics [6]

Company Overview - iVision Tech, an Italian eyewear manufacturer, experienced a significant stock surge of nearly 28% on the Milan Stock Exchange, adding approximately €3.5 million ($4.1 million) to its market capitalization following French President Emmanuel Macron's appearance wearing their retro-style aviators at the World Economic Forum [2][3] Product Details - The eyewear brand behind the frames, Henry Jullien, was acquired by iVision Tech in 2023. The Pacific S01 model, which retails for €659, is crafted using a gold-filled technique that enhances durability compared to standard gold plating [6][4] - Each pair of glasses can take up to four months to assemble, showcasing the luxury craftsmanship associated with the brand [6] Market Impact - Macron's choice of eyewear not only sparked viral interest but also led to a crash of the company's website due to overwhelming traffic, prompting the launch of a dedicated landing page for the Pacific S01 model [4][3] - The eyewear has been positioned as a luxury product, with iVision Tech's CEO emphasizing its long-lasting quality, comparing it to jewelry and watches, thus framing it as an investment [7]