Safilo Group Reports Continued Financial Momentum in Q3, First Nine Months

By Staff
Wednesday, November 13, 2019 12:27 AM PADUA, Italy—Safilo Group S.p.A. reported that its third quarter financial performance "continued the Group's positive momentum in sales and cost reduction," according to the company. The board of directors reviewed and approved the third quarter and first nine months of economic and key performance indicators yesterday. Angelo Trocchia, Safilo's CEO, commented, “In the third quarter of the year, we continued the improvement of our results, working with determination on those priorities aimed at enhancing our Group’s assets, in particular strengthening our commercial capabilities and enhancing our digital agenda, two areas in which our strategy is focused on the customer and on a continuous and ever closer connection with the final consumer. Meanwhile, we progressed also with actions to improve the efficiency of our production processes and overhead cost structures. The quarter brought significant results. We renewed two strategic partnerships relating to the Boss and Hugo licenses and the supply agreement with Kering Eyewear, and we prepared for the launch of our new licenses — David Beckham, Levi’s and Missoni."

National Vision Reports Double-Digit Sales Increase for Third Quarter and Raises Fiscal 2019 Outlook

By Staff
Friday, November 8, 2019 12:27 AM DULUTH, Ga.—Marking its 71st consecutive quarter of comparable-store sales growth, National Vision Holdings Inc. (NASDAQ: EYE) reported Thursday that its net revenue increased 11.5 percent to $431.9 million in the third quarter, driven in part by adjusted comparable-store sales growth of 6.2 percent (5.7 percent non-adjusted) in the quarter. Net income totaled $1.2 million in the quarter, which compares with net income of $5.2 million in the year-ago period. However, adjusted net income increased 65.8 percent to $14.5 million, compared with $8.7 million in last year’s third quarter.

Allergan Reports Third-Quarter Sales Increase of 3.6 Percent and Raises Full-Year Revenue Guidance

By Staff
Wednesday, November 6, 2019 12:21 AM DUBLIN—Allergan plc (NYSE: AGN) reported Tuesday that its third-quarter sales rose 3.6 percent to $4.05 billion (on a GAAP basis), and that its non-GAAP operating income fell by almost 8 percent because of the impact divestitures and the loss of patent protection for some products, among other factors. However, Allergan said it was raising its full-year sales guidance (on a GAAP basis) by $200 million to a range of $15.625 billion to $15.825 billion.

Johnson & Johnson Reports Sales and Earnings Increases in Third Quarter and Raises Full-Year Guidance

By Staff
Wednesday, October 16, 2019 12:24 AM
NEW BRUNSWICK, N.J.—Johnson & Johnson (NYSE: JNJ) reported Tuesday that its sales increased 1.9 percent to $20.7 billion in the third quarter. The increase was 3.2 percent on an operational basis (which excludes the impact of currency exchange) and 5.2 percent on an adjusted operational basis (which excludes currency factors and the net impact of acquisitions and divestitures), the company’s announcement noted. J&J also increased its full-year sales and earnings guidance in its third-quarter report, which it said reflects “strong performance” in the year to date. Adjusted sales are now forecasted to rise in the range of 4.5 percent to 5 percent.

Alcon Says Second-Quarter Results Show ‘Mid-Single Digit Growth’ Across All Product Categories

By Staff
Wednesday, August 21, 2019 12:21 AM GENEVA, Switzerland—Alcon (SIX/NYSE:ALC), in its second earnings report since being spun off by Novartis earlier this year, said sales rose 2 percent to $1.9 billion in the second quarter as the company achieved mid-single digit growth in all product categories.

National Vision Holdings, Inc. Reports Q2 Quarter Gains and Higher Comp Store Sales

By Staff
Wednesday, August 7, 2019 12:27 AM DULUTH, Ga.—National Vision Holdings, Inc. (NASDAQ: EYE) reported net revenue climbed 11.4 percent to $429.5 million for the second quarter ending June 29, compared to $385.5 million for the second quarter of 2018. Comparable store sales growth was 4.4 percent for the quarter, the 70th consecutive quarter of comp store gains, while adjusted comparable store sales growth was 3.8 percent. The company reported net income of $10.3 million for the second quarter, while adjusted net income rose 3.6 percent to $16.3 million.

Allergan Reports Flat Sales in Second Quarter, But Raises Forecasts for Full Year 2019

By Staff
Wednesday, August 7, 2019 12:21 AM DUBLIN—Allergan plc (NYSE: AGN) reported Tuesday that second quarter GAAP revenue totaled $4.09 billion, a 0.8 percent decline from the year-ago period, but after excluding the impact of currency exchange impact revenues rose 1.2 percent in the quarter. The company also reported a GAAP operating loss in the second quarter of $1.26 billion, including the impact of impairments. This compares with an operating loss of $467 million in the year-ago period.Allergan is in the midst of being acquired by AbbVie Inc. in a deal valued at $63 billion, as VMAIL reported.

NovaBay Pharmaceuticals Reports Increase in Sales of Avenova

By Staff
Tuesday, July 30, 2019 12:21 AM EMERYVILLE, Calif.—NovaBay Pharmaceuticals Inc. (NYSE American: NBY), a biopharma company focused on commercializing Avenova for the domestic eyecare market, reported net sales of $1.8 million for the second quarter ended June 30. Avenova’s sales in this three-month period were $1.6 million, a 9 percent increase from the first quarter of 2019, according to the company’s announcement Monday. Avenova, which is formulated with a proprietary, stable and pure form of hypochlorous acid, is designed for removal of the microorganisms and debris that contribute to conditions such as meibomian gland dysfunction, dry eye and blepharitis, according to NovaBay.

Kering Eyewear Reports Strong Sales Gains in First Half

By Staff
Friday, July 26, 2019 12:21 AM PADOVA, Italy—Against the backdrop of a strong financial performance in the first six months of the year for Kering Group, the luxury company cited "another excellent performance" from Kering Eyewear. According to the company's results issued yesterday, Kering Eyewear’s sales rose sharply in the first half of 2019 to €320.8 million, fueled by the success of its Gucci, Saint Laurent and Cartier brands, and by its takeover of the Montblanc and Balenciaga licenses, it was reported. In addition, Kering Eyewear's contribution to the group’s consolidated revenue for the period amounted to €259.4 million, up 20.7 percent on a comparable basis (after eliminating intra-group sales and royalties paid to the Group’s Houses). Kering Eyewear’s profitability progressed significantly.

Nicox Reports Rise in Net Revenue for 2Q 2019

By Staff
Friday, July 19, 2019 12:18 AM SOPHIA ANTIPOLIS, France—International ophthalmology company Nicox (Euronext Paris: FR0013018124, COX) reported net revenue of €5.2 million in the second quarter ending June 30, 2019 versus €0.2 million in the second quarter of 2018. The Nicox Group had cash and cash equivalents of €17.3 million as compared with €23.5 million at March 31, 2019 and €22.1 million as of Dec. 31, 2018. These cash and cash equivalents do not include the €2 million upfront payment from Ocumension nor the $3 million milestone payment from Eyevance received in July, the company said.

Takeda Completes Sale of Xiidra to Novartis

By Staff
Monday, July 8, 2019 12:24 AM OSAKA, Japan—Takeda Pharmaceutical Company (TSE:4502/NYSE:TAK) announced last week that it completed the sale of its Xiidra (lifitegrast ophthalmic solution) 5 percent product to Novartis for $3.4 billion upfront in cash and up to an additional $1.9 billion in potential milestone payments. VMail first reported news of the pending deal in May. “The completion of this transaction marks an important step in executing Takeda’s strategy, which is focused on optimizing our portfolio around the key business areas that are core to our long-term growth and creating the most value for our patients and shareholders,” said Christophe Weber, president and CEO of Takeda.

AbbVie to Acquire Allergan in $63 Billion Deal

By Staff
Tuesday, June 25, 2019 9:30 AM NORTH CHICAGO, Ill. and DUBLIN—AbbVie Inc. (NYSE: ABBV) and Allergan plc (NYSE: AGN) have entered into a definitive transaction agreement under which AbbVie will acquire Allergan in a cash and stock transaction for a transaction equity value of approximately $63 billion, based on the closing price of AbbVie's common stock of $78.45 on June 24, 2019. The deal, which was announced by the two companies this morning, is worth about $80 billion including debt, according to The Wall St. Journal.

Sheridan Capital Partners Invests in Atlantic Vision Partners

By Staff
Friday, June 14, 2019 12:21 AM CHICAGO—Sheridan Capital Partners announced its investment in Atlantic Vision Partners (AVP), a vision practice management company. In the transaction, Sheridan invested alongside AVP’s founders and management, who will retain “a meaningful ownership stake” in the business, according to the announcement. “AVP has achieved meaningful scale in its geography,” said Jonathan Lewis, partner of Sheridan Capital Partners. “The company has grown significantly due to the team’s focus on clinical excellence and its ability to attract strong provider talent to the platform.”

Safilo Signs an Agreement to Sell Solstice Retail Business to Fairway LLC

By Staff
Friday, May 24, 2019 8:30 AM PADUA, Italy—Safilo Group S.p.A. has reached an agreement to sell its U.S. retail chain Solstice to Fairway LLC.

EssilorLuxottica Posts Solid Gains in 1Q 2019

By Staff
Wednesday, May 8, 2019 12:30 AM CHARENTON-LE-PONT, France—EssilorLuxottica (Reuters: ESLX.PA) posted a solid first quarter financial performance, despite the battle over governance being fought among its top management which has lowered its stock price and has raised questions about the company’s management structure. Yesterday, EssilorLuxottica reported consolidated revenue for the first quarter ending March 31, 2019 totaling €4,210 million, representing a year-on-year increase of 7.5 percent compared to Q1 2018 pro forma revenue (+3.7 percent at constant exchange rates).