Reuters
(Reuters) -Ray-Ban parent EssilorLuxottica saw sales growth slow in North America in its latest quarter, raising concerns about its exposure to recession in the United States and offsetting an improvement in its operating margin. The Franco-Italian company whose brands also include Oakley and Varilux said its adjusted operating margin rose by 100 basis points to 18.4% in the six months to June 30, driven by its upscale brands. "The main driver of that margin expansion for the first half was very much our price mix," finance chief Stefano Grassi said on a call with analysts, pointing to new product launches and the strength of its luxury and branded lens portfolios.