Latest Headlines – Page 73
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Novartis will spin off Alcon in the first half of 2019
Novartis, which announced earlier this year that it would divest its Alcon eye-care division to concentrate on its pharmaceutical business, said that the demerger of its subsidiary would happen in the first half of 2019.During a day-long conference organized for its investors in New York, the Swiss group stated that ...
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Daily silicone lenses boost CVI’s revenues
Thanks to strong sales of daily silicone hydrogel lenses, CooperVision (CVI), which is part of The Cooper Companies, posted revenues for its fiscal fourth quarter ended on Oct. 31 that were up by 9 percent from the year-ago quarter to $480.6 million. On a pro forma basis and in constant ...
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Bausch Health records organic growth across all segments
Bausch Health saw adjusted revenues for the third quarter grow organically by 3 percent from the year-ago quarter, with organic growth across all its business segments.However, when including the impact of 2017 divestitures and discontinuations ($112 million) and the unfavorable impact of foreign exchange ($30 million), the Canadian group - ...
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Special’Eyes launches Dark Hole concept
Special'Eyes, a French provider of private label collections for optical buying groups and optical chains, has presented the Dark Hole concept, offering its clients a distinctive product that it believes could retail around €150-250 a pair.Dark Hole, which was a nominee for the 2018 Silmo d'Or award in the frame ...
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Afternoon markets Pantone eyewear
Special'Eyes has a sister company, Afternoon, that has the global eyewear license for Pantone. It uses the same design office and the same back office functions. Afternoon was set up earlier this year as a 50-50 joint venture between Pascal Bernard, the former owner of the toy company Jura Toys, and ...
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Netoptic goes up one notch, launching Jose Alvarez
The Belgian producer Netoptic has launched the Jose Alvarez brand to upscale its offer. The firm generates the bulk of its revenues from the Kinto and Malt brands, which are roughly positioned in the same price range.Kinto represents about 70 percent of the company's sales and has an average wholesale ...
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A Norwegian ski champion launches glasses and gloves
A Norwegian cross-country skiing star, Petter Northug, has launched his own brand, called Northug. The first products set to be launched in 2019 will be a line of sports glasses designed by an award-winning industrial designer, Bård Eker, and Eker Design. Eker is best known for the design of a ...
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Spectaris’ Trend Forum offered insight into digitization
Spectaris, the German optical industry association, invited almost 600 industry professionals to its annual Trend Forum, held in Berlin on Nov. 5. This year's Trend Forum featured lectures and tutorials covering the changes in digitalization that are affecting people and markets, particularly in the ophthalmic optics industry.Christopher Keese, chief executive ...
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Quality overrides price in Europe
The quality of lenses is generally a more important factor than their price or brand for consumers in the five major European countries, according to the eighth edition of the Optical Monitor (OMO). Once again commissioned from GfK by the Mido and Silmo trade shows, the survey was based on ...
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GrandVision’s comparable sales soar
GrandVision achieved its highest quarterly comparable growth performance in more than three years in the latest quarter, driven by strong sales in the G4 and Americas & Asia segments.Revenues rose in the third quarter by 10.5 percent from the year-ago period to €948 million, but would have increased by 13.3 ...
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The warm summer affected Fielmann
With the unusually warm summer this year, Fielmann saw its external sales for the third quarter increase by only 2.7 percent to €430.6 million. Consolidated sales rose about half a percent to €366.4 million compared with the same period last year, and they were basically flat on a same-store basis.The ...
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EssilorLuxottica is in the starting blocks
Essilor and Luxottica completed their €48 billion merger agreement on Oct.1, but there are a few more steps that have been taken since and that will have to be made before the corporate structure of the new combined entity, EssilorLuxottica, is finalized. The “combination” of the two industry giants comes ...
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Italy’s anti-trust probes Luxottica’s purchase of Barberini
Italy's antitrust agency, the AGCM, has opened an investigation into Luxottica's planned €140 million purchase of Barberini, the leading Italian producer of high-end mineral lenses for sun and optical glasses, which are typically used for medium to high quality sunglasses.According to observers, its acquisition by Luxottica, which is combining its ...
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Positive sales trends for Essilor
Essilor reported partially positive results for its part of the merged business during the third quarter of this year in the first financial report since its merger with Luxottica. Fueled by good results in Asia, the online business and the Sunglasses & Readers division, the group's global revenues improved by ...
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Hoya reports higher margins
Hoya Corp. booked a 7 percent increase in sales of eyeglass lenses in the second quarter of its financial year, ended on Sept. 30, but they were only up by 3 percent on a comparable basis. Sales of contact lenses went up by 6 percent, but they were still mainly ...
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Luxottica’s Q3 sales rise by 2.9%
Luxottica posted a 2.9 percent increase in third-quarter sales to €2,215 million, reversing the negative trend seen in the first half and even slightly beating market expectations. At constant currency rates, the top line rose by 3.5 percent, but the growth is now expected to be limited to around 2 ...
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Safilo’s Q3 sales are off by 9.0%
Trick or treat? Safilo handed out both at Halloween by releasing third-quarter results that missed expectations for the top line but beat projections in terms of profitability thanks to higher-than-planned cost savings. In the quarter, group sales fell by 9.0 percent to €221.5 million, short of analysts' expectations of €225 ...
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Has the tide turned for Safilo?
On Oct. 29, Safilo's shareholders approved a €150 million rights issue, marking the latest act of a remarkable twist of fate for the troubled group, judging from several positive aspects of the refinancing package. Is the group on the cusp of a revival or just facing another false dawn? The ...
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Safilo avoids issuing a new high-yield bond
In arranging its refinancing program, Safilo has avoided another costly bond, which would have weighed on its profit and loss account. The company already has to repay a convertible bond of €150 million that is due to mature next May. The issuance of a bond was considered but not enacted. ...
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Cash generation is Safilo’s next milestone
According to its own projections, Safilo will be able to generate free cash flow on average for the whole of 2019. Because of the cyclical nature of its business, the company's cash flow is predicted to be negative at the start of the year, with the build-up of working capital, ...
