Are You a Top 50 U.S. Retailer? Submissions Still Being Accepted for VM's Annual Top 50 U.S. Optical Retailers Report

By Staff
Wednesday, May 18, 2022 12:18 AM NEW YORK—Vision Monday will be publishing its signature Annual Top 50 U.S. Optical Retailers Report in its upcoming June print/digital edition. A link to the survey is posted here.

Modo and Eco Win iF Design Awards

By Staff
Wednesday, May 18, 2022 12:15 AM NEW YORK—Modo Eyewear and Eco Eyewear have taken home 2022 iF Design Awards, one for Modo’s R1000 + Titanium with Snap Hinge and one for Eco’s Biobased Optical Collection. Founded in 1953, the iF Design Awards are judged by a panel of 132 high profile design experts from over 20 countries with the goal of finding and awarding "submissions with the greatest innovative power." The Eco Biobased Optical Collection includes a magnetic sun clip with the magnet integrated into the bio-based material and then hidden from view using gradient coloring a continuation of the temple. The frames are crafted using a bio-based material derived from sustainable non-GMO castor seed oil.

Warby Parker Reports 10 Percent Increase in Q1 Sales as ‘Active’ Customer Count Climbs 18 Percent, But Net Loss Also Widens

By Staff
Tuesday, May 17, 2022 12:27 AM NEW YORK—Against a backdrop of disruption due to the Omicron variant that was first felt in the last weeks of December and continuing through the first quarter, Warby Parker Inc. (NYSE: WRBY) on Monday reported that its Q1 revenue rose 10.3 percent to $153.2 million as both active customer count and average revenue per customer increased also in the quarter ended March 31. However, the retailer's net loss totaled $34.1 million in the quarter, primarily as a result of an increase in SG&A (selling, general and administrative) expenses, according to its announcement.

Kits Reports Slight Sales Decline in First Quarter Total Revenue and Notes Large Growth in Eyeglasses Revenue

By Staff
Friday, May 13, 2022 12:24 AM VANCOUVER, Canada—Kits Eyecare Ltd. (TSX: KITS / OTCQX: KTYCF), a direct-to-consumer glasses manufacturer and digital eyecare provider, reported this week that its revenue in the first quarter dipped roughly 2 percent to $20.1 million.

Bollé Brands Appoints Three Leadership Positions to Accelerate North American Growth

By Staff
Friday, May 13, 2022 12:18 AM CARLSBAD, Calif.—Bollé Brands Group, which distributes Bollé, Serengeti and Bollé Safety, added to its portfolio in 2019 with the acquisition of Spy Optics, as reported by VMAIL. The Group is now appointing three key industry executives to leadership roles within the organization to strengthen its foothold in the North American market.

FYidoctors Launches Unique Future Vision Leaders Program to Support the Next Generation of Canadian Optometrists

By Staff
Friday, May 13, 2022 12:15 AM CALGARY—FYidoctors, a diversified health care organization based here, is launching its Future Vision Leaders program, a one-of-a-kind initiative designed to help new and recent optometry graduates with up to $100,000 in forgivable loans. This unique program aims to partner the next generation of optometrists with patients and regions across Canada that are in marked need of professional eyecare expertise, apart from giving new optometrists a career boost unlike no other. “FYidoctors was founded on doctors defining what eyecare looks like—both now and in the future,” FYidoctors chairman and chief executive officer Dr. Alan Ulsifer said.

FYidoctors Named One of Canada’s Best Managed Companies for Third Consecutive Year

By Staff
Thursday, May 12, 2022 12:21 AM TORONTO, Ontario—FYidoctors reported that the group was recognized for overall business performance and sustained growth with the prestigious Canada’s Best Managed Companies designation.

Layoffs Are Coming as Companies Focus on Profitability

By Staff
Wednesday, May 11, 2022 2:02 PM A wave of cost-cutting measures, including layoffs and job freezes, is hitting the retail sector, according to eMarketer analyst at Insider Intelligence Zak Stambor. The announcements are coming amid signs of softening consumer demand. April U.S. general merchandise unit sales were 7 percent lower than a year ago, creating a 1 percent decline in sales revenue, according to The NPD Group. The situation has driven retail companies—including GoPuff, Peloton, Thrasio, and Reef—and other tech companies to rethink their staffing levels as the changing economic conditions force them to shift focus to turning a profit.

With consumers flush with cash thanks to fewer ways to spend their money and an influx of stimulus cash, many retail and tech companies experienced a huge boom earlier in the pandemic that drove them to rapidly add staff to keep up with demand. 

When it comes to direct-to-consumer (D2C) e-commerce, where there’s a sharp dichotomy between established brands such as Nike and digitally native brands such as Peloton, Warby Parker, and the retail brands that Amazon aggregators like Thrasio purchase. While digitally native brands used cheap capital to build their businesses, they’re having trouble adapting to the new landscape. 

That helps explain why D2C e-commerce sales of established brands are now growing faster than those of digitally native vertical brands (DNVBs), per eMarketer’s estimate. Last year, established brands grew their D2C e-commerce sales 27.2 percent, significantly outpacing the DNVBs’ 19.8 percent growth rate despite larger baseline comparisons, and that trend is expected to continue in 2022.

Click here to read more about the changes in the workforce landscape for 2022 and beyond.

Amid Challenges of Pandemic, National Vision Reports Q1 Declines in Revenue and Same-Store Sales, With Move to Expand ‘Remote’ Exam Initiative

By Staff
Wednesday, May 11, 2022 12:27 AM DULUTH, Ga.—National Vision Holdings Inc. (NASDAQ: EYE) on Tuesday morning reported that its net revenue declined 1.2 percent to $527.7 million in the first quarter, as comparable-store sales fell 4.9 percent (down 6.8 percent on an adjusted basis). Net income decreased 30.6 percent to $30.1 million in the period ended April 2 as the challenges of the COVID-19 pandemic had an impact across the retailer’s more than 1,200-location store base. National Vision also noted that, in response to capacity challenges, it will accelerate the rollout of its remote medicine initiative, and now projects offering remote exams in 300 locations by year’s end, an increase from the at least 200 locations previously planned for 2022.

Marcolin and Timberland Extend Licensing Agreement Until 2026

By Staff
Wednesday, May 11, 2022 12:15 AM LONGARONE—Marcolin and TBL Licensing announced the early extension of their licensing agreement for the design, production and worldwide distribution of Timberland optical frames and sunglasses. The partnership, originally signed in 2003, is now renewed for a further five years until December 2026. Timberland, a world leader in design and marketing of premium footwear, clothing and accessories for those who love outdoor life, tackles environmental challenges to minimize its impact on the planet from design to production.

VSP Vision Names Greg Hare President of Visionworks

By Staff
Wednesday, May 4, 2022 12:24 AM RANCHO CORDOVA, Calif.—VSP Vision has promoted Greg Hare to president of Visionworks, according to an announcement today.

My Eyelab Prepares to Open Three New Stores in Birmingham, Ala., Area

By Staff
Tuesday, May 3, 2022 12:18 AM BIRMINGHAM, Ala.—My Eyelab, an optical retailer and franchisor, will open its newest locations in Birmingham later this month and in late June, with another third location to follow later in 2022, according to the company’s announcement this week.

Are You a Top U.S. Optical Retailer? VM Opens its Annual Top 50 Optical Retailers Survey, Sets May 25 Deadline

By Staff
Monday, May 2, 2022 12:30 AM NEW YORK—The year 2021 for the optical sector was not unlike a rollercoaster ride in some ways, with a series of ups and downs and quick turns, as the nation experienced an uneven recovery from COVID-19. But the optical business did bounce back in 2021, and after this second consecutive extraordinary business year, Vision Monday will be publishing its signature Annual Top 50 U.S. Optical Retailers Report in its upcoming June print/digital edition. A link to the survey is posted here.

Vision Source’s The Exchange 2022 Kicks Off in the Nation’s Capital to Mark Another Year of ‘United in Purpose’ and Championing Private Practice Optometry

By Staff
Friday, April 29, 2022 12:27 AM KINGWOOD, Texas—Rallying behind the event theme, “United in Purpose,” more than 1,500 members of Vision Source and their staff traveled to Washington, D.C., for The Exchange, the nation’s largest annual gathering of private practice optometrists.

Total Vision Announces New Partnership With Golden Vision as Group Positions Itself for Further Growth

By Staff
Thursday, April 28, 2022 12:27 AM MISSION VIEJO, Calif.—Total Vision, a leading and expanding California-based network of vision care providers, has announced a new partnership with Golden Vision, a nine-location luxury eyecare and eyewear optometry chain operating in California, according to an announcement this week.