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 Essilor in 2015, operates as a franchisor with 3,344 locations. In 2015, Vision Source locations numbered 3,262, and overall revenues from its locations totaled $2,511.5 million. According to analysts, consolidations and the involvement of private equity investments have been stimulating acquisitions of independent and regional retail/practice groups, and this process is reshaping the U.S. optical industry.

Luxottica Retail, which had held the No. 1 spot for many years, was ranked at No. 2 in the latest VM report. According to VM's estimates, the optical stores of Luxottica Retail in the U.S. and Puerto Rico posted revenues of $2,400 million for the calendar year 2016. The company closed certain underperforming stores, many of which within Sears' locations, and proceeded to a realignment of its higher end stores in 2016. It also re-evaluated its mix, design and approach in the U.S., while embarking on other projects such as a major expansion at Target and a store refurbishment and new store design for LensCrafters.

Wal-Mart Stores maintained its No. 3 spot in VM's ranking with estimated sales of $1,733 million, comprising Wal-Mart operated optical centers and Sam's Club opticals. National Vision, at No. 4, generated estimated sales of $1,150 million, with 943 locations across its brands and formats. Costco Wholesale's optical business reached No. 5, with sales of $961 million from 491 locations, followed by Visionworks of America at No. 6 with sales of $917.9 million from 748 stores operated as of the end of Dec. 2016. MyEyeDr./Capital Vision Services was No. 7, with sales of $411 million after an expansion to 318 locations for the calendar year 2016. Refac Optical Group was at No. 8, with sales of $280 million from its 780 locations. EyeCare Partners jumped from No. 11 in 2015 to No. 9, after seeing the number of its locations expanding from 129 to 230 in 2016, totaling sales of $275 million for 2016. Eyemart Express, at No. 10, generated sales of $245 million from 182 locations.

The Top 10 of VM's ranking of U.S. Optical Retailers comprised an estimated 31.6 percent of the total retail revenues of U.S. optical market. The full report and Top 50 was included within the digital and print May 15 editions of Vision Monday as well as on VM's website. The PDF of this year's and last year's Top 50 are also available on VM's website.