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CooperVision Q3 sales down by 12%
CooperVision (CVI) saw a 12 percent drop in sales to $449.3 million in the third quarter of CooperCompanies’ financial year, which ended on July 31, and the division’s gross margin narrowed to 61 percent from 65 percent a year earlier owing to the impact of the Covid-19 pandemic.
Alcon’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 ...
Thai 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 ...
New 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, ...
U.S. delays TikTok ban to Sept. 27 as Trump gives blessing to deal with Oracle, Walmart
The U.S. Department of Commerce said that it has delayed until Sept. 27 the prohibition of the Chinese mobile application TikTok. The department had previously announced that the ban would start today.
Safilo secures €108.0 million government-backed financing
Safilo signed of a new term loan facility totaling €108.0 million which provides it with additional liquidity to finance its working capital and investment needs for activities located in Italy.
EssilorLuxottica ready to pursue lawsuit against GrandVision after losing first round
Yesterday, a Dutch district court rejected EssilorLuxottica’s request to obtain information from GrandVision to determine whether the Dutch retailer had breached the terms an agreement in view of its takeover by Essilux.
ABG, 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 ...
U.S. delays TikTok ban to Sept. 27 as Trump gives blessing to deal with Oracle, Walmart
The U.S. Department of Commerce said that it has delayed until Sept. 27 the prohibition of the Chinese mobile application TikTok. The department had previously announced that the ban would start today.
Amazon: The Janus-faced company
The current Covid-19 crisis has accelerated Amazon’s consumer goods business exponentially. The Silicon Valley giant doubled its profits in the second quarter of this year and increased its turnover to nearly $89 billion. The share value has also nearly doubled since the middle of March. On Sept. 1, Amazon announced ...
PayPal to launch buy now, pay later solution in Q4
PayPal, the American online payment provider, announced that it will launch early in the fourth quarter “Pay in 4”, a short-term installment payment scheme for customers in the U.S. The service will permit merchants to be paid upfront while customers can pay for purchases between $30 and $600 over a ...
GrandVision’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.
Executive Survey: Optical industry braces up for a difficult spring/summer 2021 season
The optical industry is expecting a significant decline in demand for spring/summer 2021 collections as the world economy still reels from the blow of the Covid-19 pandemic. Nevertheless, many are maintaining comprehensive collections and relying on digital tools to defend or develop their businesses, according to an executive survey carried ...
Only a quarter of U.K. companies are ready for Brexit
Only 24 percent of U.K. business leaders believe that their businesses are fully ready for the end of the Brexit transition period, which concludes on Dec. 31, according to a survey by the Institute of Directors (IoD).
Amazon and other marketplaces may be in for a reckoning over illegal sales
Why the sale of illegal products through online platforms could become a problem for Amazon and other marketplaces – and why the widespread circumvention of EU competition law may soon be over
French customers maintain their eyewear purchase intentions
Six weeks after the lockdown restrictions were lifted in France, a new opinion poll of French customers by Opinion Way for Gifo, the national eyewear industry association, broadly confirmed the trends observed in the initial survey about a month ago.