All Article articles – Page 80
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Safilo starts to recover from its logistic disruption
The Safilo Group's revenues fell by 9.8 percent to €315.3 million in the second quarter and by 15.1 percent to €552.6 million for the first half of the year, mainly due to delayed shipments from its distribution center in Padua, whose upgrade has taken longer than expected. They were also ...
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Google redesigns Glass for workers
Google is releasing a re-engineered version of Glass specifically designed for use in the workplace. Workers in logistics, manufacturing, healthcare or other fields may find it useful to be equipped with a wearable device for information and other resources while their hands are busy. Google halted sales of Glass Explorer, ...
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LensCrafters maintains one-hour service for single-vision glasses
Luxottica is pursuing its efforts to reduce the size of LensCrafters locations in the U.S. by removing in-store laboratories and servicing the points of sale from central laboratories. But tests have shown that, while LensCrafters can shift the bulk of lens orders to the central laboratories, single-vision customers remain attached ...
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Afflelou and Optic 2000 plan to sell glasses in pharmacies
The optical retail market in France was virtually flat last year at around €6.7 billion, according to the French trade magazine Bien Vu, and for the first time in many years, the number of optical stores declined by 0.1 percent. However, with 12,739 points of sale at the end of ...
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Optic 2000 adjusts strategy in a tough French market
The French voluntary group reported last week an increase of 1.8 percent in retail sales to €905 million including VAT for its eponymous Optic 2000 banner in 2016, which consolidated its leadership in a stagnant French optical market by reaching a share of 13.5 percent, according to an estimate by ...
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Hilco Vision acquires LBI’s cases and accessories division
Hilco Vision has announced the acquisition of LBI's cases and accessories division. Hilco said in its statement that Chett Lehrer, the former owner, will remain in place, and that LBI's cases and accessories division operations, currently located in Las Vegas, will also remain where they are, to ensure continuity for ...
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Heidelberg Engineering acquires Medisoft
Heidelberg Engineering has announced that it has acquired 100 percent of Medisoft, a U.K.-based provider of Electronic Medical Record (EMR) software solutions for the ophthalmology market. The financial terms of the transaction were not disclosed. Based in the German city of Heidelberg, Heidelberg Engineering is a high-tech imagining solutions provider ...
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Alcon’s recovery is slowly on track
Novartis reported sales for its Alcon eye care business of $1.4 billion in the first quarter, down by 1 percent versus last year's first quarter. In constant currencies, Alcon sales increased by 1 percent. Novartis said Alcon's growth plan is on track, with ongoing actions to accelerate sales and innovation, ...
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Safilo risks losing another important license
After the early termination of the Gucci license last year and LVMH's decision to pick Marcolin as its new eyewear partner, Safilo faces the risk of losing the Kate Spade license, its largest eyewear brand in North America. On May 8, Coach, the American leathergoods company, said that it had ...
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S&P confirms Safilo’s ‘B+’ rating
The U.S. rating agency Standard & Poor's confirmed its “B+” credit rating for Safilo, with a stable outlook. S&P subsequently withdrew the rating at Safilo's request. Safilo explained that the decision was motivated by cost containment and streamlining and that it will continue to be assessed by S&P's peer, Moody's. ...
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New report highlights need for better UV protection
The Vision Council has released “UV Gotta Have Shades,” its newest report about UV protection. The document, which is meant for the vision industry at large as well as the media, highlights the habits of American adults and children regarding exposure to the sun's UV rays. Data are drawn from ...
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Big drop in Safilo’s quarterly sales
Safilo's revenues slumped by 21.3 percent to €237.3 million in the first quarter due to delayed shipments from its logistics center in Padua, whose upgrade is taking longer than expected, and the end of the company's important licensing agreement with Gucci. At constant currency rates, revenues were off by 22.8 ...
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Vision Source replaces Luxottica as the biggest U.S. retailer
With collective revenues of $2,632 million in 2016, for the first time Vision Source has taken the lead in Vision Monday (VM) Top 50 U.S. Optical Retailer's Report, which has just been released. The report exclusively assesses rankings based on 2016 calendar year sales. Vision Source, which was acquired by ...
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Kering Eyewear’s “made in” label is challenged
Kering Eyewear is the target of a lawsuit brought by a U.S.-based retailer and wholesaler specializing in luxury eyewear, Selima Optique, with four stores in the New York area and one in Paris, which is questioning the origin of its products. Inviting others to join in the complaint, filed on ...
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Optoplast’s parent will work with Continental
After moving into lenses with the acquisition of Jay Kudo, the Millmead Optical Group of the U.K. has made an unspecified investment in Continental Eyewear. A public statement says that Millmead will give Continental access to its own logistics platform in the U.K. and to its international distribution network.The statement ...
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CooperVision’s sales driven by silicon hydrogel products
CooperVision (CVI) saw revenues increase by a reported 4 percent to $408.5 million in the second quarter of its financial year ended Apr. 30, 2017. In constant currencies, the revenue increase was of 7 percent. Growth was primarily driven by its silicon hydrogel products, with daily silicone hydrogel lenses up ...
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Higher sales but lower margins for De Rigo
De Rigo's consolidated sales rose by 2.6 percent in 2016 to €413.6 million, with a 2.4 percent increase in constant currencies. The company's operating earnings before amortization (Ebitda) declined by 6.3 percent to €29.8 million, representing an Ebitda margin of 7.2 percent, due to a sales decline on a comparable ...
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Hoya Lens’ profits decline
The profitability of Hoya Corporation's eyeglass lens business declined in the fourth quarter of its latest financial year, ended on March 31. The management attributed this to price pressure in the market due to the acquisition of smaller chains by larger chains as well as the partial success of certain ...
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Marcolin forms a joint venture in the Middle East
The Marcolin Group announced a new joint venture in the Middle East with its former exclusive distributor in the region, the Rivoli Group, which is one of the largest retailers of luxury products in the Middle East. Marcolin will have a controlling stake of 51 percent in the joint venture, ...
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New moves in the Essilor-Luxottica merger
The merger of the two giants of the ophthalmic optic industry is proceeding as planned, moving toward its completion by the end of the year provided it is endorsed by anti-trust authorities. An overwhelming majority of Essilor International's shareholders approved the terms of the transaction at their general assembly last ...
