New Look Vision Reports 19th Consecutive Quarter of Comparable Store Sales Growth
New Look Vision Group reported financial results for the 13 weeks ended March 30, 2019.
Q1 2019 Financial and Operational Highlights:
• Revenues increased by 2.4% over last year to $71.5 million.
• Comparable store sales orders were up by 2.6%, compared to the first quarter of last year, marking the 19th consecutive quarter of comparable store sales growth.
• Adjusted EBITDA reached $11.6 million, an increase of 2.3% over last year and increased 1.4% on a per diluted share basis to $0.74.
• Adjusted cash flows from operating activities were $11.2 million, an increase of 4.4% over last year and an increase of 4.3% on a per diluted share basis to $0.72.
Antoine Amiel, the President and CEO of New Look Vision, stated that: “In Q1 2019, New Look Vision Group delivered its 19th consecutive quarter of comparable store sales growth and record free cash flow. The prior year’s debt deleveraging momentum carried into the first quarter of this year, positioning the company to resume consolidating the fragmented Canadian retail optical market, with eight stores acquired since the beginning of the year.”
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