MONTREAL—Canadian optical retailer New Look Eyewear Inc. (TSX: BCI) reported record revenues of $41.8 million for the first quarter ended March 28, 2015, an increase of 31.4 percent over the year ago period.

The increase was mainly due to additional revenues generated by 53 stores acquired or opened since the beginning of 2014, including the 49 Greiche & Scaff stores acquired last October as well as higher same store sales growth for stores operated under the New Look Eyewear and Vogue Optical banners, New Look said in a statement. Adjusted EBITDA for the first quarter was $6.7 million, compared to an adjusted EBITDA of $5.0 million last year, an increase of 33.1 percent.

Cash flows from operating activities, before changes in working capital reached $6.1 million in the first quarter of 2015 compared to $4.8 million last year.

"Our ongoing positive operating and financial results in 2014 and Q1 2015 are concrete evidence of the success of our growth strategy in the past several years, both generic and by acquisition,” said Antoine Amiel, vice chairman of New Look. “Q1 2015 is the first quarter reflecting full quarterly results for both Vogue Optical (acquired in December 2013) and Greiche & Scaff (acquired in October 2014). The Canadian retail optical industry continues to consolidate and we continue to monitor developments closely at the same time as we continue to organically build our business."

Martial Gagne, president of New Look, commented: "We are pleased to report a strong operating and financial performance in the first quarter of 2015. Revenues and adjusted EBITDA achieved $41.8 million and $6.7 million respectively. Same store sales orders for the first quarter were up 6.2 percent compared to 0.7 percent last year. Cash flow from operations was strong, achieving $6.1 million. The outlook for the second quarter remains promising for all three banners."

In a separate move, New Look’s shareholders voted at their annual meeting yesterday to approve changing the corporation’s name to New Look Vision Group Inc. / Groupe Vision New Look Inc. The name change will become effective on or about June 1, 2015 and is subject to TSX final approval. New Look said in a statement that it anticipates that its Class A common shares will begin trading on the TSX under its new name on or about June 1, 2015. The corporation's trading symbol (BCI) will remain unchanged.