LensCrafters 2013 Annual Report Download - page 23
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18
6. CORPORATE GOVERNANCE
Information about ownership structure and corporate governance is contained in the corporate governance report
which is an integral part of the annual financial report.
7. RELATED PARTY TRANSACTIONS
Our related party transactions are neither atypical nor unusual and occur in the ordinary course of our business.
Management believes that these transactions are fair to the Company. For further details regarding related party transactions,
please refer to Note 29 of the Notes to the Consolidated Financial Statements as of December 31, 2013.
8. RISK FACTORS
Our future operating results and financial condition may be affected by various factors, including those set forth
below.
Risks Relating to Our Industry and General Economic Conditions
If current economic conditions deteriorate, demand for our products will be adversely impacted, access to credit will be
reduced and our customers and others with which we do business will suffer financial hardship, all of which could reduce
sales and in turn adversely impact our business, results of operations, financial condition and cash flows.
Our operations and performance depend significantly on worldwide economic conditions. Uncertainty about global
economic conditions poses a risk to our business because consumers and businesses may postpone spending in response to
tighter credit markets, unemployment, negative financial news and/or declines in income or asset values, which could have a
material adverse effect on demand for our products and services. Discretionary spending is affected by many factors,
including general business conditions, inflation, interest rates, consumer debt levels, unemployment rates, availability of
consumer credit, conditions in the real estate and mortgage markets, currency exchange rates and other matters that influence
consumer confidence. Many of these factors are outside our control. Purchases of discretionary items could decline during
Over 75% of
employees say they
are proud to work for
Luxottica.
Around 3 in 4
employees would like
to keep working for
Luxottica.
Almost 80% of
employees are willing
to make an extra effort
to contribute to the
success of Luxottica.