New Look Eyewear achieves record results
Monday, August 12 2013 | 00 h 00 min | News
New Look Eyewear achieves record sales in the second quarter ended June 29.
At $24.0 million, this represents an increase of 12.7% over the corresponding period last year. Net earnings for the quarter were $2.7 million, compared to $2.0 million last year. During this period, New Look increased its network by three stores operating under its banner and concluded affiliations with two independent optical clinics. The chain now has 76 locations, in addition to a laboratory.
According to Martial Gagné, New Look’s president, “the second quarter of 2013 surpassed all previous quarterly milestones regarding revenues, EBITDA, net earnings, and cash flows, and represents an outstanding performance by the company and all its management and associates.”
Overall, New Look’s sales increased by 7% for the first six months of the year, while net earnings were up 28.6%.
New Look will pay a dividend of $0.15 per Class A common shares, payable on September 30, 2013, to the shareholders of record as of September 20, 2013.