Latest Headlines – Page 64
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Alcon’s first year after Novartis spin-off is a success
Alcon reported total sales of $7,362 million for the full year 2019, an increase of 3 percent on a reported basis and 5 percent in constant currencies. The management said that 2019 was a good year for the company, as it completed its spin-off from Novartis to become an ...
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Lawsuit widens Bausch Health’s net loss in Q4
Bausch Health reported a net loss of $1,516 million for the fourth quarter, compared with a net loss of $344 million for the year-ago period. The management blamed mainly the accrual of legal reserves established for the resolution of a so-called “stock drop” litigation in the U.S. linked to the ...
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The Vision Council takes a new tack
The Vision Council announced details from a new five-year plan, including a new consumer marketing strategy. Both are set to commence this year and following the council’s annual Executive Summit, held on Jan. 29-31 in Manalapan, Florida. The council also inducted its board of directors for the new year. ...
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ArticleBig management changes at Essilux
EssilorLuxottica announced on March 30 the retirement of Laurent Vacherot as chief executive of Essilor, saying that he has decided not to lead a new phase in the integration with Luxottica, which it wants to speed up. Paul de Saillant, 61, is taking over the role from the 64-year-old Vacherot ...
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EssilorLuxottica posts strong sales and profits for 2019
In 2019, the first full year in which Essilor and Luxottica were part of the same company, EssilorLuxottica – alias Essilux – enjoyed a 7.4 percent jump in revenues to €17.390 million on a pro-forma basis. In constant currencies, they grew by 4.4 percent. One of the highlights was a ...
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ArticleAnalysis: Mandatory and voluntary actions in Europe to stem Covid-19
Many companies have had to close their retail and manufacturing activities in Europe over the past few weeks because of national lockdowns intended to mitigate the spread of the Covid-19 pandemic. Many others, especially in the ophthalmic optics sector, have shut down voluntarily, as a service to their communities. ...
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CooperVision grows by 4% in Q1
CooperVision’s sales went up by 3 percent to $485.2 million in the first quarter of Cooper Companies’ financial year, which ended on Jan. 31, and its gross margin improved by 0.5 percentage points to 66.5 percent. Sales of toric lenses rose by 6 percent to $155.1 million, multifocal lenses ...
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The European contact lens market rose by 4.3% in 2019
The contact lens market in 33 European countries rose by 8.8 percent in 2019 to €1,960 million, according to data released by Euromcontact, which represents the contact lens and lens care industry in Europe. On a comparable basis, the growth was limited at 4.3 percent, as the organization was not ...
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Safilo continues to produce despite harsher lockdown measures
As its core business consists of making “medical devices,” Safilo has continued manufacturing both prescription frames and sunglasses in Italy despite harsher governmental regulations for the lockdown of non-essential activities in the country to stop the propagation of the Covid-19 virus. We could not determine at press time how many ...
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EssilorLuxottica starts to cope with Covid-19
On March 27, EssilorLuxottica said it had stopped a share buyback program that it had announced only 10 days earlier, due to the growing uncertainty being created by the rapidly expanding Covid-19 pandemic. It’s one of the measures that the group is implementing to improve its liquidity in view of ...
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GrandVision issues profit warning due to Covid-19
Because of the Covid-19 pandemic, GrandVision (GV) no longer expects this year to achieve its medium-term objectives of an annual growth of at least 5 percent in revenue and Ebita. It noted that the business environment remains uncertain but the company is confident that it will complete its takeover by ...
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Mister Spex’ omni-channel strategy takes on new dimensions
To protect customers and employees during the current coronavirus crisis, Mister Spex has recently decided to switch its 21 stores in Germany to emergency care until further notice. Further new store openings, in Berlin and Munich, will be suspended. All Mister Spex online services will remain available to customers. ...
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Germany faces up to the disease differently
Governments around the world have stepped up restrictions on the movement of their citizens to reduce the spread of Covid-19, which, according to the World Health Organization (WHO), has infected over 780,000 and killed more than 37,000 people globally. As of March 31, more than 67,000 cases were confirmed ...
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Eyewear stores are temporarily closed in Russia
The Russian government is no longer recognizing corrective eyewear as essential products that should not fall under a nationwide retail lockdown. It has ordered all eyewear stores in the country to be shut down at least for one week from Monday, March 30. While they were excluded from a ...
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Eyewear sales will be 12% online by 2023
The global consumption of prescription frames and sunglasses is expected to grow annually by 3-4 percent to reach €61 billion in 2023 as compared to €51 billion in 2018, with sales rising by 2 percent a year in developed countries and by 5 percent in emerging markets, according to data ...
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Marc Fielmann becomes sole CEO
With a unanimous vote, Fielmann's supervisory board endorsed the resignation of Günther Fielmann, who is now 80 years old, as chief executive of the company on Nov. 21 and the transfer of all his responsibilities to his 40-year-old son, Marc Fielmann, who has already started to make waves on the ...
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Afflelou posts strong sales, turns around
Including its franchisees' revenues and those of its own stores, the French-based Afflelou Group saw sales increase by 4.7 percent to €818.5 million for its fiscal year, ended on July 31, 2019. The network recorded its fourth year of solid growth in comparable sales, which gained 5.1 percent from the ...
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Zeiss Vision Care’s sales at over €1 billion
The Zeiss Group said that its Consumer Markets segment, comprising the strategic Vision Care and Consumer Products business units, enjoyed above-market growth for the financial year ended on Sept. 30. It added that it outpaced the competition in all regions, especially in emerging markets, reaching for the first time a ...
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Safilo buys into Blenders, gets the Under Armour license
Safilo, the Italian eyewear group that owns Smith Optics, has bought a 70 percent stake in a fast-growing Californian firm, Blenders Eyewear, that targets Millennials and Generation Z customers with cool sunglasses and snow goggles and has a great website.Safilo also reported that it has signed an eyewear licensing agreement ...
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Safilo launches a new business plan
Safilo presented last week a new business plan outlining its strategy to recoup lost revenues and reach sales of about €1,000 million in 2024 compared with an expected €960-1,000 million in 2020, despite the loss of important licenses that currently generate about €200 million in annual revenues. The 2020 estimate ...
