Latest Headlines – Page 23
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ArticleWarby Parker raises guidance after sales jump 16% in Q1
Warby Parker raised its full year earnings and sales guidance after posting a strong showing in the first quarter of 2024, with revenues during the period jumping by 16.3 percent to $200.0 million and topping guidance for 13.7-14.6 percent growth. “Over the last couple of years, in spite of challenging ...
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ArticleNational Vision accelerates remote eye exams following tepid Q1 comparable sales growth
U.S. optical retailer National Vision said that revenues from continuing operations in the first quarter of 2024 increased by 4.2 percent compared to the year earlier to reach $542.5 million. Comparable store sales growth was 1.4 percent and adjusted comparable sales growth just 0.4 percent, driven by growth in its ...
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ArticleMarcolin posts higher margins on lower sales in Q1, discloses more details on fiscal 2023
Marcolin has announced mixed results for the first quarter of 2024, delivering higher profitability despite declining revenue. Total Q1 sales went down by 4.4 percent year-on-year to €145.6 million. On a constant currency basis, they declined by 3.8 percent. The group underscored that, on a like-for-like brands portfolio basis, the ...
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ArticleMixed Q1 results for Mister Spex as sales of prescription glasses decline slightly
Mister Spex revenue inched up by 2.0 percent year-on-year to €51.1 million for the first quarter of 2024, decelerating strongly from Q4 2024 when it grew by 7.4 percent. The mid-single digit growth in Germany was insufficient to fully offset a sharp drop in international sales (see table below). ...
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ArticleSafilo Q1 revenue inch down as momentum in Europe fails to fully offset North American decline
As anticipated by the company’s management in previous announcements, Safilo Group has posted lackluster results for the first quarter of 2024 with revenue declining by 3.5 percent year-on-year to €277.2 million. At constant rates, the topline was down by 1.7 percent marking a trend reversal from Q4 2023 when it ...
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ArticleCarl Zeiss Meditec revenue and margins down in H1
Carl Zeiss Meditec has announced a 2.8 percent year-on-year decline in H1 revenue to €974.5 million, which translates to a 0.7 percent reduction at constant currency rates. While sales in the Microsurgery business unit increased by 9.1 percent at constant rates to €246.5 million versus H1 2022/23, revenue from the ...
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ArticleThirteen eyewear frames received an IF DESIGN 2024 award
IF Design Foundation (IF), the German-based organization behind the international IF DESIGN AWARDS has released the list of award winners for 2024, ahead of the ceremony scheduled for April 29 in Berlin. The IF jury reviews designs submitted by companies across nine disciplines (product, packaging, communication, …) and 81 product ...
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ArticleRevenues up 5 % at Optic 2000 Group
Optic 200 Group – which comprises Optic 2000, Lissac, Audio 2000, Gadol and Optic Swiss Services – has posted revenues of €1.292 billion, up 5 percent year-on-year. The group says that its sales growth outstripped that of the combined French markets for optical and hearing aids in 2023 and that ...
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ArticleFielmann banks on US business and vision care services for mid-term growth
The final annual results for fiscal 2023 released yesterday by Fielmann Group confirm all preliminary results announced in February, notably the double-digit increase in external sales and consolidated sales versus 2022 and a significant rebound in profitability (see table below). Please refer to our previous report for more details on ...
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ArticleFielmann sales up double digit in Q1 as US business integration offset European slowdown
Along with its complete annual results for fiscal 2023, on which we will report in a separate article, Fielmann Group has announced a 10.8 percent year-on-year increase in Q1 consolidated sales to €529.1 million. Ebitda margin for the quarter remained stable versus Q1 2023, at 21.7 percent. ...
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ArticleHinge specialist OBE Präzision adds Vietnam to industrial base, invests in smart eyewear and 3D printing
On the heels of the group’s investment in Italy, where it acquired OMM, a supplier of metal components for high-end eyewear manufacturers, we sat down with Erik Schäfer, CEO of OBE Holdings, mother company of hinge specialist OBE Präzision. “As a supplier of key components to the eyewear industry, ...
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ArticleNew owner for Nexeye retail group
Global investment firm KKR will become the new majority shareholder of Nexeye, the Dutch-based retail group operating the Hans Anders, Eyes + More and Direkt Optik chains, acquiring it from 3i, another investment fund that owned the company since 2017. The agreement is subject to regulatory approval, but it does ...
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ArticleKering Eyewear stands out with 8% Q1 revenue hike as group topline slips
As in the last quarter of 2023, Kering Eyewear was the only business unit of French luxury group Kering that reported a revenue increase in Q1 2024 as reported sales of optical frames and sunglasses rose by 7 percent year-on-year to €463 million. On a comparable currency basis, Kering ...
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ArticleUS sun business sole exception to EssilorLuxottica’s smooth sailing in Q1
EssilorLuxottica remained on a smooth sailing trajectory in the start of 2024 as the group reported a 3.0 percent year-on-year increase in Q1 revenue to €6,335 million. At constant rates, sales progressed by 5.5 percent versus 2022, decelerating slightly from Q4 2023 (+7.1 percent) but remaining in line with the ...
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ArticleInspecs posts flattish 2023 sales after Q4 drop, but profit ratios improved
UK-based Inspecs Group has reported a 1.2 percent increase in annual revenue to £203.3 million (€237.4m) for fiscal 2023, corresponding to a topline flat performance at constant exchange rates, after the company’s business slowed down sharply in the last months of the year. However, the company managed to report significant ...
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ArticleVuzix losses pile up as AR smart glasses take-off takes its time
After a last-minute postponement at the end of March of its annual results presentation, smart eyewear manufacturer Vuzix reported earlier this week a severe drop in Q4 revenue and a significant increase in losses for fiscal 2023. While the management stressed that investments in manufacturing and product development have led ...
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ArticleUS startup picks eyewear market as launch pad for infinitely recyclable plastic material
As the world is grappling with an ever-growing amount of plastic waste, of which less than 10 percent is being recycled, our attention was brought to a California-based chemical start-up that claims it can produce an infinitely recyclable alternative material to high performance plastics. And, somewhat surprisingly for such a ...
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ArticleDisposable daily CLs momentum slowed down in 2023 in Europe, survey shows
Wholesale sales of soft contact lenses rose by 5.2 percent year-on-year to €2,157 million in 2023 for a group of 32 countries including 25 in Europe and a few others (Egypt, Israel, Saudi Arabia, Kuwait, South Africa and United Arab Emirates), according to the new annual report by Euromcontact, the ...
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ArticleSlight average eyewear stocks price hike in Q1 reflects extreme ups and downs
The average stock price of public eyewear companies inched up by 1.6 percent on a non-weighted basis during the first quarter of 2024, slowing down from the 8.4 percent growth calculated for Q4 2023. The Q1 2024 performance also fell short of the 8.1 percent quarter-on-quarter growth of the MSCI ...
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ArticleStudy suggests readers could ease poverty
The American journal Plos One has published a study concluding that the “provision of reading glasses increases income in near vision-intensive occupations, and may facilitate return to work for those currently unemployed.” The study was conducted in Bangladesh among presbyopic men and women aged 35 to 65, about half of ...
