Gartner CFO Survey Shows 60 Percent of Organizations Experienced Wage Inflation in 2Q21

By Staff
Tuesday, October 12, 2021 3:09 PM A survey of 111 CFOs in July 2021 revealed that 60 percent of organizations experienced wage inflation in 2Q21, nearly double the amount compared to the previous quarter, according to Gartner, Inc. Nearly three in four CFOs polled cited the risk of lower profitability as their top concern as organizations face broad-based input price inflation increases, ranging from salaries and wages to higher costs for commodities and freight shipping.

BVI Announces Investment & Collaboration With Beyeonics Vision

By Staff
Thursday, October 7, 2021 12:21 AM WALTHAM, Mass.—BVI, a diversified global ophthalmic device company, announced an investment in Beyeonics Vision, a medical technology subsidiary of Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT).

What's in the $3.5 Trillion Infrastructure Package?

By Staff
Wednesday, October 6, 2021 11:29 AM Division on Capitol Hill might be centering around the debt ceiling and the bipartisan spending bill of $1.2 trillion at the moment, but the elephant in the room remains the Democrats’ massive $3.5 trillion proposal—also dubbed the human infrastructure bill.

Last Thursday, progressives in the Democratic Party withdrew support for the smaller, physical infrastructure deal of $1.2 trillion, which was supposed to have bipartisan support. While Democrats have been preparing to pass the larger package through budget reconciliation on a party line vote, the Progressive Caucus is worried moderates within their own party will turn into a threat for the proposal.

Democratic moderates Kyrsten Sinema (D-AZ) and Joe Manchin (D-WV) emerged as the most vocal critics of the Build Back Better agenda. Progressive Caucus chair Pramila Jayapal (WA-07) instructed members to vote “no” if the $1.2 trillion bill would come up to a vote in the House, which it didn’t.

Tax cuts for those Americans making less than $400,000 per year are part of the biggest budget item in the current $3.5 trillion proposal, which earmarks $1.8 trillion for the Finance Committee, also promising to lower prices for prescription drugs. Clean energy spending as such only totals $265 billion to the Committees of Energy and Natural Resources as well as Environment and Public Works.

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Warby Parker Shares Hit the NYSE and Get Off to a Flying Start, as Offering Values the Company at Almost $6 Billion

By Staff
Wednesday, September 29, 2021 4:00 PM NEW YORK—After ringing the bell to open trading on the New York Stock Exchange (NYSE) on Sept. 29, Warby Parker Inc. executives saw shares in the company get off to a flying start via their nontraditional direct listing. The opening trade in Warby Parker (ticker symbol WRBY) was priced at $54.05 per share, which valued the company at about $6 billion. That market cap valuation moved even higher as shares subsequently hit an intraday high of $54.72 in trading on the NYSE.

Warby Parker Releases Financial Guidance for the Third Quarter, Fiscal Year 2021 and Fiscal Year 2022

By Staff
Wednesday, September 22, 2021 12:30 AM NEW YORK—Warby Parker Inc. yesterday issued guidance for the third quarter ending Sept. 30, 2021 and for the fiscal years ending Dec. 31, 2021 and 2022.

Hilco Vision Acquires Bruder Healthcare

By Staff
Tuesday, September 21, 2021 12:27 AM PLAINVILLE, Mass.—Hilco Vision, based here, announced that it has acquired Bruder Healthcare LLC, effective Sept. 17, 2021.

Bausch Health Files Confidentially for Public Offering of Bausch + Lomb and Medical Aesthetics Business

By Staff
Wednesday, September 15, 2021 12:27 AM LAVAL, Quebec—Bausch Health Companies Inc. (NYSE/TSX: BHC) filed a registration statement with the Securities and Exchange Commission this week noting that the parent company had previously submitted registration statements related to the planned separation and/or spinoff of both its Bausch + Lomb eyecare business and its medical aesthetics group.

Warby Parker Outlines Plans for Growth, Store Expansion and Evolution to a ‘Holistic’ Vision Care Company as it Readies Public Stock Offering

By Staff
Monday, September 13, 2021 3:45 PM NEW YORK—In an optimistic and upbeat two-hour webcast presentation, Warby Parker Inc. co-founders and top executives on Monday morning laid out their plans for strong growth, including expansion of the physical store base, their ongoing philanthropic efforts and the company’s planned evolution to a more “holistic” vision care company that drives a larger share of revenue from eye exams and contact lens sales. The investor presentation follow’s last month’s registration filing with the Securities and Exchange Commission for a direct listing of Warby Parker’s Class A shares, as VMAIL reported.

Inspecs Group Reports Increased Sales in First Half 2021 Results

By Staff
Thursday, September 9, 2021 12:24 AM BATH, England—Inspecs Group, plc, (LSE: SPEC) the global eyewear and lens group based here, reported its interim financial results for the six months ended 30 June 2021.

Despite the Pandemic, Wage Growth Held Firm for Most U.S. workers, With Little Effect on Inequality

By Staff
Wednesday, September 8, 2021 3:30 PM Despite the severity of the shock to the U.S. labor market from the coronavirus pandemic, the earnings of employed workers overall were largely unaffected by the pandemic. Inequality in earnings did rise during last year’s recession, if the unemployed are assumed to have had no compensation. Even so, the spike was relatively short-lived, in keeping with the record low duration of the recession, according to a new Pew Research Center analysis of government data.

Earnings overall have held steady through the pandemic in part because lower-wage workers experienced steeper job losses. Thus, the typical employed worker in 2020 earned more than the typical employed worker in 2019. A slowdown in inflation in 2020 benefited all workers, boosting the purchasing power of their earnings. While unemployed workers lost their earnings, at least some relief came through unemployment insurance, a federal package known as the CARES Act and a moratorium on residential evictions. 

As the pandemic struck, lower-wage workers proved most likely to experience a job loss. The shift toward higher-wage workers among the employed helped to raise the median hourly wage to $23 in the second quarter of 2020.

Click here to read the full story from Pew Research Center.

Baxter to Acquire Hillrom, Parent of Welch Allyn

By Staff
Tuesday, September 7, 2021 12:15 AM DEERFIELD, Ill. and CHICAGO—Baxter International (NYSE:BAX), a leading global medical products company, and Hillrom (NYSE:HRC), a global medical technology leader, announced on Sept. 3 that they have entered into a definitive agreement under which Baxter has agreed to acquire Hillrom for $156 per share in cash for a total equity value of approximately $10.5 billion and a total enterprise value of approximately $12.4 billion, including the assumption of debt. Hillrom brings a highly complementary product portfolio and innovation pipeline that will enable Baxter to provide a broader array of medical products and services to patients and clinicians across the care continuum and around the world, facilitating the delivery of health care that is patient- and customer-centered and focused on improving clinical outcomes, the companies said in a statement.

CooperCompanies Reports Record Sales, Earnings in Q3 as All Contact Lens Segments Show Double-Digit Growth

By Staff
Friday, September 3, 2021 12:30 AM SAN RAMON, Calif.—CooperCompanies (NYSE: COO) on Thursday reported that its third-quarter sales increased 32 percent (28 percent in constant currency) year-over-year to $763.4 million, driven by sales gains in both of its business segments. In the CooperVision (CVI) segment, which includes contact lenses, revenue rose 24 percent (20 percent at constant currency) to $557.5 million. In the CooperSurgical (CSI) segment, revenue increased 60 percent to $205.9 million in the third quarter, which ended July 31, 2021.

Leveljump Healthcare Takes 23.8 Percent Stake in Shaw Lens

By Staff
Friday, September 3, 2021 12:27 AM TORONTO, Ontario—Leveljump Healthcare Corp. (TSXV: JUMP), a Canadian telehealth company, has acquired 23.8 percent of the issued and outstanding shares of each of Shaw Vision Inc. and Shaw Lens Inc. from a minority shareholder.

EssilorLuxottica Launches Share Buyback Program

By Staff
Wednesday, September 1, 2021 12:15 AM CHARENTON-LE-PONT, France—EssilorLuxottica (Reuters: ESLX.PA) announced the launch of a share buyback program, a move that reflects the Group’s confidence in its value creation and long-term prospects.

EyeQue Closes Series C Funding Round, Bringing Total Capital Raised to $57 Million

By Staff
Wednesday, August 25, 2021 12:27 AM NEWARK, Calif.—EyeQue, a smartphone vision testing company, said it has closed a Series C funding round of about $40 million and now has raised more than $57 million in capital since the company was founded in 2015.