Inspecs Group Reports Final Fiscal 2021 Financial Results

By Staff
Thursday, June 30, 2022 12:21 AM BATH, England—Inspecs Group plc (LSE: SPEC), a leading designer, manufacturer and distributor of eyewear, including sunglasses, optical frames and lenses, announced its final results for fiscal 2021, the 12 months ending Dec. 31.

Bausch + Lomb Announces Brett Icahn and Gary Hu Have Been Appointed to its Board of Directors

By Staff
Monday, June 27, 2022 12:21 AM VAUGHAN, Ontario—Bausch + Lomb Corp. (NYSE/TSX: BLCO) announced Friday that it has expanded its board of directors to add two designees to the board from Carl C. Icahn and affiliated entities (Icahn Group).

CooperVision Expands New York Manufacturing and Distribution Facilities in Move to ‘Significantly Increase Capacity’

By Staff
Thursday, June 23, 2022 12:18 AM ROCHESTER, N.Y.—To meet growing demand from eyecare professionals and wearers for its portfolio of contact lenses, CooperVision has begun construction on the expansion and renovation of its manufacturing, packaging and distribution facilities in Scottsville and West Henrietta, N.Y.

Shopko Optical Begins Transition Plan for Incorporating Newly Acquired Midwest Vision Centers in Minnesota and North Dakota

By Staff
Tuesday, June 21, 2022 12:27 AM GREEN BAY, Wis.—Executives of Shopko Optical and Midwest Vision Centers have been meeting for at least the past two months as they worked to smooth the path forward once Shopko Optical completed its planned acquisition of the smaller optical retailer, executives of Shopko Optical said Monday on a conference call announcing the finalization of the deal. During the call, Shopko Optical executives noted that Dr. Myrel A. Neumann, the former owner of Midwest Vision Centers, will serve in an advisory role moving forward to help manage through the transition.

Shopko Optical Continues Expanding as it Acquires Midwest Vision Centers

By Staff
Monday, June 20, 2022 11:15 AM GREEN BAY, Wis.—Shopko Optical announced this morning that it has acquired Midwest Vision Centers, which operates 18 eyecare locations in Minnesota and North Dakota. The transaction will expand Shopko Optical to 142 eyecare centers throughout the Upper Midwest, according to the company’s announcement. The terms of the acquisition were not disclosed. Midwest Vision Centers is Shopko Optical’s seventh completed acquisition over the past six months. Shopko Optical now operates eyecare centers across 13 states.

EssilorLuxottica Launches Share Buyback Program

By Staff
Monday, June 20, 2022 12:15 AM CHARENTON-LE-PONT, France—EssilorLuxottica (USOTC:ESLOY) announced the launch of a share buyback program, reflecting the group’s confidence in its value creation and long-term prospects.

National Vision Joins S&P SmallCap 600, Holds Annual Shareholders Meeting

By Staff
Thursday, June 16, 2022 12:18 AM DULUTH, Ga.—Effective today, National Vision Holdings, Inc. (NASDAQ:EYE) will replace Renewable Energy Group Inc. (NASD: REGI) in the S&P SmallCap 600, effective prior to the opening of trading.

Kits Reports Monthly Record in May With Production and Delivery of 31,000 Pairs of Eyeglasses

By Staff
Friday, June 10, 2022 12:21 AM VANCOUVER—Online retailer Kits Eyecare Ltd. (TSX: KITS) reported that in the month of May it manufactured and delivered more than 31,000 pairs of eyeglasses.

In First Report as a New Public Company, Bausch + Lomb Reports Increased Sales and Decline in Net Income for its First Quarter

By Staff
Thursday, June 9, 2022 12:24 AM VAUGHAN, Ontario—Bausch + Lomb Corp. (NYSE/TSX: BLCO), in its first financial report since returning to the ranks of independent public companies in May, reported Wednesday that its sales increased 1 percent (5 percent on an organic basis) to $889 million in its first quarter, which ended March 31. The eyecare company also reported net income of $20 million and adjusted EBITDA of $170 million for the first quarter. In the year-ago quarter B+L reported revenue of $881 million. The company noted that in the current quarter foreign exchange had an unfavorable impact on revenue of $29 million.

Prism Vision Group Completes 21st Acquisition With Addition of South Jersey Eye Physicians

By Staff
Wednesday, June 8, 2022 12:21 AM NEW PROVIDENCE, N.J.—Prism Vision Group, a vertically integrated eyecare services organization with practice groups along the East coast, has announced the addition of South Jersey Eye Physicians to the Prism network.

Smartglasses Company Innovative Eyewear Updates Terms of Initial Public Offering, With Plan to Raise Approximately $10 Million

By Staff
Tuesday, June 7, 2022 12:24 AM MIAMI—Innovative Eyewear Inc., a Florida corporation and business unit of Lucyd Ltd., has updated its plans for an initial public offering (IPO). The company said in a recent filing with the Securities and Exchange Commission that the offering will consist of 1,538,461 shares of common stock and 3,076,922 warrants to purchase 3,076,922 shares of common stock. Prior to this offering, there has been no public market for Innovative Eyewear’s common stock or warrants, the filing noted.

CooperCompanies Reports Revenue Increases in the Second Quarter of 2022

By Staff
Friday, June 3, 2022 12:27 AM SAN RAMON, Calif.—CooperCompanies reported financial results for its fiscal second quarter ended April 30, 2022 and said that revenue increased 15 percent year-over-year to $829.8 million, up 20 percent in constant currency and 10 percent organically. CooperVision (CVI) revenue rose 6 percent to $553.8 million for the period while CooperSurgical (CSI) revenues climbed 40 percent to $276.0 million.

Here’s How Much Money Americans Say They Need to Live Comfortably

By Staff
Thursday, May 26, 2022 4:19 PM The pandemic was a catalyst for all types of change, and that includes how comfortable many Americans are with their nest eggs, according to a recent feature in Fast Company. 

Americans say they need an average net worth of $774,000 to be “financially comfortable,” and an average net worth of $2.2 million to be “wealthy,” according to the Charles Schwab Modern Wealth Survey 2022.

The online survey, which was conducted in February and comprises answers from 1,000 Americans between the ages of 21 and 75, shows not only that people think they need more to be considered wealthy than they did in 2021 ($1.9 million), but that they need more to feel like they’re on solid financial footing, too.

That’s perhaps the most interesting takeaway from the data: The average amount needed to attain financial comfort is down significantly from five years ago. In 2018, the average amount needed to attain monetary contentment was $1.4 million—but by 2021, it was only $624,000 and was bumped up to $774,000 this year. That may be due to the fact that people simply learned to adjust their lifestyles and their financial outlooks after living through the pandemic, experts say.

Shareholders Adopt Board Resolutions at EssilorLuxottica 2022 Annual Shareholders’ Meeting

By Staff
Thursday, May 26, 2022 12:21 AM CHARENTON-LE-PONT, France—The EssilorLuxottica annual general meeting was held yesterday at the Carrousel du Louvre in Paris and EssilorLuxottica shareholders approved all 16 resolutions submitted by the board of directors to the ordinary and extraordinary general meeting, including the compensation policy applicable to the company’s executive corporate officers.

MacuLogix Moves to Wind Down Operations as a 'Going Concern,' as Liquidity Issues Become Insurmountable

By Staff
Wednesday, May 25, 2022 12:30 AM MIDDLETOWN, Pa.—MacuLogix Inc., a company founded a decade ago to support ECPs with the tools and resources needed to diagnose and monitor patients with age-related macular degeneration (AMD), is winding down operations and has assigned its assets to a firm that specializes in working with creditors in business liquidation processes, according to a filing in the Delaware Court of Chancery late last week. This assignment of assets includes patent rights and related intellectual property. Maculogix, which conducted a months-long search for a buyer or new investors, owes approximately $23 million to secured creditors, according to the court filing.