All Article articles – Page 55
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ArticleAlcon’s Q2 vision care sales down 27% driven by contact lenses
In the second quarter of 2020, Alcon’s vision care division, which includes the contact lens and ocular health businesses, posted an 27 percent decrease in net sales to $596 million. At constant currency rates, the decline reached 25 percent and was primarily driven by lower demand and widespread closures, partially ...
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ArticleThai Optical Group to set up TOG Europe
Commenting on its second-quarter financial results, Thai Optical Group (TOG) announced that it will establish a new distribution center for Europe in Poland. According to the lens maker, the new structure is scheduled to be operational before the end of the year and will help to increase business opportunities in ...
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ArticleEssilux launches EssilorLuxottica 360 in the U.S. as group speeds up integration
Essilor and Luxottica, respectively the lens and frame subsidiaries of EssilorLuxottica, and Luxottica’s managed vision care unit EyeMed, created EssilorLuxottica 360, a new joint program that they claim will drive growth for independent eyecare professionals (ECPs) across the U.S. This is a concrete sign of further integration within the Franco-Italian ...
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ArticleEyewear market is strong on the Russian south
Sales on the Russian eyewear market are yet to recover to the pre-crisis level, but in some regions, the picture is better than in the others. For instance, the demand for eyewear in the Russian south, primarily in Krasnodar Krai, is higher than usual at this time of the year, ...
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ArticleABG, SPARC picked to buy Brooks Brothers for $325 million
The iconic American apparel group Brooks Brothers has selected Authentic Brands Group (ABG) and its partially owned retail unit SPARC as the winning bidders of a competitive sale process after they increased their offer to $325 million for the vast majority of the company’s global business operations as a going ...
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ArticleNew Look Vision enjoys brisk trade since re-start
New Look Vision, Canada’s largest optical retailer, posted a 64.9 percent decrease in revenues to 27.4 million Canadian dollars (€17.5m-$20.5m) in the second quarter, resulting principally from the Covid-19 related interruption, as well as scheduled store closures offset by revenue from newly acquired stores. By the end of the quarter, ...
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ArticleNational Vision returned to growth in June
National Vision’s second quarter net revenues fell to $260.0 million from $429.5 million a year earlier as comparable store sales contracted by a reported 44.7 percent and by 36.5 percent on an adjusted basis. Comparable store sales dropped by 83.9 percent in April and by 56.6 percent in May, but ...
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ArticleBausch Health to spin off its eye health unit
Bausch Health intends to spin off its eye health business into an independent publicly traded entity. It will be an integrated, pure play eye-health company built on the Bausch + Lomb brand. The timing of the spinoff is tied to certain conditions and approvals, including the reorganization of the reporting ...
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ArticleEssilorLuxottica has secured trade data held by GrandVision
EssilorLuxottica has secured information stored on servers managed by GrandVision in connection with legal proceedings involving the two companies. The Dutch eyewear retailer said that the measure was handled by an unamed independent third party. A backup of the information will be held by the third party until there is ...
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ArticleGrandVision’s online booking plays key role in customer conversion
GrandVision continues to see lower retail traffic across its business as a result of higher consumer uncertainty. But, this is being offset by higher customer conversion driven by the underlying need for eyecare and brand loyalty, the Dutch eyewear retailer said in comments accompanying its first-half results. The online appointment ...
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Safilo’s full-year sales forecasts cut by analysts
After Safilo released weaker-than-expected second-quarter results, some financial analysts cut their forecasts for the full year. In the second quarter of 2020, Safilo registered a 54.0 percent decrease in sales to €114.5 million as a consequence of coronavirus-related lockdowns and travel restrictions. Thanks to a mid-single digit growth rate posted ...
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Hoya’s lenses revenues down 42% in Q1
Hoya Corporation’s performance was again severely impacted by the Covid-19 pandemic in the first quarter ended on June 30, particularly for its life care segment. The group reported quarterly revenues of 61.9 billion yen (€496,6m-$585.3m) for the segment, down by 34 percent in absolute terms from ¥93.8 billion in the ...
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ArticleEssilorLuxottica cautiously optimistic after Q2 sales halved
EssilorLuxottica is cautiously optimistic about the remainder of the year and expects its “transition on the way towards normalization” to continue in the third quarter after second-quarter revenues were nearly halved amid Covid-19 lockdowns. Yet given uncertainty on the evolution of the pandemic, with local lockdowns already re-imposed in some ...
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Safilo signals moderate decline in Q3 sales despite July rebound
Safilo warned that it could suffer a moderate decline in sales in the third quarter, despite the rebound experienced in July and the contribution of its new acquisitions Privé Revaux and Blenders, that propped up sales in the first half. The company is also negotiating with creditor banks a “significant” ...
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ArticleGrandVision starts arbitration proceedings against EssilorLuxottica
GrandVision has initiated arbitration proceedings against EssilorLuxottica’s claims that the Dutch retailer had breached its obligations under the co-called “Support Agreement” in managing its business during the Covid-19 pandemic. GrandVision reiterated that it strongly disagrees with EssilorLuxottica’s accusations. It added that it has initiated the arbitration to obtain confirmation that ...
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ArticleSilmo Paris is cancelled but goes on tour
The organizers of Silmo Paris have announced the cancellation of the 2020 edition, scheduled for Oct. 2-5, following in the footsteps of Vision Expo West most recently and of all other major trade shows this year since February. The decision was jointly taken by the Silmo executive board and its ...
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ArticleEU suspends deadline for probe into Essilux’s takeover of GrandVision
The European Commission has suspended the deadline for the end of an in-depth investigation into EssilorLuxottica’s proposed €7.2 billion takeover of GrandVision, according to a filing on its website. The commission has repeatedly postponed the deadline. The last one being August 27. The proposed deal, referred to as case M.9569, ...
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ArticleCirillo Marcolin takes over presidency of Confindustria Moda
As planned, Cirillo Marcolin has taken over the rotating presidency of Confindustria Moda, the umbrella organization of the Italian fashion industry, replacing Claudio Marenzi. Confindustria Moda comprises Sistema Moda Italia (SMI), which groups the textile and apparel firms operating in the country; Assocalzaturifici, the shoemakers’ association; Assopellettieri, formerly called Aimpes, ...
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Big drop in revenues drives Sun Hing in the red
Sun Hing, the Hong-Kong based eyewear company, registered a sharp drop in revenues for its financial year ended on March 31, with overall sales of 912.8 million HK dollars (€102.9m-$117.7m), down by 25.5 percent from HK$ 1,223.9 million a year earlier. Gross profit margin was down by 4.1 percentage points ...
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ArticleThe Russian eyewear market is recovering but the outlook remains bleak
After having slumped by 30 percent year-on-year in the first five months of 2020, based on data released by the research institute GfK, the Russian eyewear market is showing signs of recovery, although the pace varies from region to region and the outlook remains bleak, according to Victor Gordeychyuk, ...
