What allows the company to do that is the forward model that it has built over the years to integrate its entire supply chain. Luxottica operations cover product design and manufacturing, to the logistics, to both retail and wholesale distribution of frames and sunglasses. By owning retail stores like Sunglasses Hut and others, Luxottica can distribute their products through their network of over 7,300 stores, in more than 130 countries, and at a faster pace than competitors.Quantitative evidence of this economic moat can be seen both in how Luxottica’s total operating expenses have decreased from 51.93% in 2012 to 50.49% in 2016 (and to 47.45% in 1H17), as well as in the Company’s net margin growth, which has risen from 7.54% in 2012 to 9.36% in 2016 (and to 11.45% in 1H17).Now imagining the effect of Luxottica’s pricing power and cost advantages in a market where only 19% of the world’s population wear sunglasses, showing how much Luxottica can still grow, it’s not far fetched to expect such margins to just improve.

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Said it would spend at least $22 billion US developing EVs from 2016 through 2025, nearly double what it previously announced. Among others, Volkswagen is spending billions of dollars in its pursuit of all electric Tesla. And, last fall, California Governor Gavin Newson inked an executive order stating all new passenger cars and trucks sold in the state would have to be emission free by 2035.

The power and the volume buttons are on the right, and are well positioned, making them easy to hit. The power button has the fingerprint scanner integrated into it. These buttons also provided good clicky feedback which prevented second guesses. Pierrette Peters, principal at Francis C. Hammond MiddleSchool, said there are more than 70 action items that schools are taking into consideration in the weeks leading up to March. These include marking spaces for social distancing, organizing and distributing personal protective equipment and determining student groups for in person and virtual learning..

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