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May 11, 2018May 11, 2018

Safilo Rebounds in First Quarter 2018

Safilo closed the first quarter of the year with a significant recovery compared to the same period of 2017 and a return to normal operating conditions, recording strong growth rates in the European markets and in the emerging countries which had been meaningfully impacted last year by the difficult start-up of the new information system in the Padua distribution center. Excluding the impact from the weaker USD, sales in North America remained soft, in particular due to the still difficult business environment in department stores.

Net sales equaled Euro 250.9 million ($383 million CAD), up 6.9% at current exchange rates and 15.4% at constant exchange rates, compared to Euro 234.6 million ($358 million CAD) in Q1 2017. The Brand Portfolio, up 16.9% at constant exchange rates, excluding Gucci business, was enriched by the launch of the new licenses, Moschino, Love Moschino and rag & bone.

Gross profit reached Euro 127.5 million ($195 million CAD), up 9.1% compared to Euro 116.8 million ($178 million CAD) in the first quarter of 2017. Gross margin increased to 50.8% of net sales compared to 49.8% in Q1 2017.

Sales in North America were Euro 94.8 million ($143 million CAD) compared to Euro 114.5 million ($175 million) in Q1 2017, down 17.2% at current exchange rates due to the sharp depreciation of the Dollar against the Euro. At constant exchange rates, the wholesale revenues decreased by 5.5%, mainly reflecting the persistence of a weak and changing business environment in department stores.

Click HERE for the full press release.

May 10, 2018May 10, 2018

New Look Reports Record Results for the First Quarter of 2018

New Look Vision Group reports that revenue in the first quarter of 2018 reached $69.8 million and adjusted earnings reached $11.3 million, representing increases of 36.7% and 44.1% respectively over last year.

The revenue increase was mainly due to a full quarter of ownership of Iris and comparable stores sales growth of 1.8% over last year. Net earnings attributed to shareholders were $2.2 million, compared to $1.3 million last year.

Antoine Amiel, the President and CEO of New Look Vision, stated that: “The year is off to a strong start with solid Q1 results for the Group as a whole, primarilydue to the inclusion of Iris and other acquisitions made in 2017, in addition to achieving our 15^th consecutive quarter of comparable store sales growth. As we carry out our strategic growth plan, we continue to generate cost synergies as highlighted by our decreasing operating expense ratio. We maintain our focus on the integration of recent acquisitions and strengthening our position in the consolidating Canadian retail optical industry.”

Pursuant to its previously announced dividend policy, the Board of Directors of New Look Vision declared a dividend of $0.15 per common share. The quarterly cash dividend will be paid on June 29, 2018 to the shareholders of record as of June 22, 2018.

Click HERE to read the complete press release.

May 10, 2018May 20, 2026

Mexx Eyes: Creative Double Bridge for Ladies

Style 2519:

Full of character, extravagant and creative. The new acetate style with a 70s-style double bridge meets the taste of fashionistas. The mix of materials on the front and the temples creates fascinating contrasts. Four hip acetate varieties in transparent shades will bring light to your client’s face and give their favorite outfit a really cool touch.

Distribution by Lanctôt: www.rlanctot.com

May 9, 2018May 9, 2018

Essilor and AAO Announce New Academic Student Challenge

Essilor of America and the American Academy of Optometry announce a new event for students, “Essilor Academic Challenge @ Academy Stadium.”

The competition will be comprised of digital competition components by teams at each school and college of optometry, culminating in a final showdown at Academy 2018 San Antonio on Thursday, November 8 from 7:00 to 10:00 PM at the Henry B. González Convention Center. Essilor Academic Challenge @ Academy Stadium will be held annually at the American Academy of Optometry meeting..

School teams will be comprised of three students at varying points in their academic career and one faculty coach. These academic teams will compete against each other in an entertaining environment to see which team has what it takes to win the coveted title. All Academy 2018 San Antonio attendees are invited to attend the live competition event held during the meeting.

Click HERE for the full press release.

May 9, 2018

Shire Agrees to Acquisition by Takeda Pharmaceutical

Takeda Pharmaceutical Company and Shire announced on Tuesday May 8 that they have reached agreement for Takeda to acquire Shire for $80.5 billion CAD.

Under the terms of the acquisition, each Shire shareholder will be entitled to receive $39.43 in cash for each Shire share and either 0.839 new Takeda shares or 1.678 Takeda ADSs.

The transaction has been approved by both companies’ boards of directors, and is expected to close in the first half of calendar year 2019.

Upon the closing of the transaction, Takeda shareholders will own approximately 50 percent of the combined group.

“Since its inception, Takeda has transformed into an agile, R&D-driven global pharmaceutical company that is well-positioned to deliver innovative and transformative care to patients around the world,” said Christophe Weber, president and chief executive officer of Takeda. “Shire’s highly complementary product portfolio and pipeline, as well as experienced employees, will accelerate our transformation for a stronger Takeda. Together, we will be a leader in providing targeted treatments in gastroenterology, neuroscience, oncology, rare diseases and plasma-derived therapies. We are looking forward to the benefits this combination will bring to patients worldwide, the opportunities it will bring for our employees and the returns it will deliver for our shareholders.”

Read the complete Press Release HERE.