New Look Business Vision Group Sales Record in Q2
Tuesday, August 9 2016 | 00 h 00 min | Financial News
Sales of New Look Group Vision reached $50.5 million CAN in the second quarter, up 8% from last year.
For the quarter ending June 25, 2016, earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted also outpaced the quarterly record reaching $10.4 million CAN. This is an increase of 2.9% compared to the same period in 2015.
Same stores sales increased a modest 1.8% compared to last year, while the addition of 20 new locations also fueled growth.
After six months in 2016, sales and EBITDA adjusted cumulative reached record $95.1 million and $17.6 million, up 7.4% and 5.1% respectively.
Antoine Amiel, President of New Look, acknowledged that the company continues to monitor consolidation opportunities in the Canadian retail optical market.