New Look has reported revenues of $32.5 million for the third quarter that ended September 27, 2014.

This represents an increase of 54% compared with the same period last year. These results are mainly attributable to the addition of 65 Vogue Optical stores in December 2013.

Sales from stores opened by New Look and Vogue Optical before 2013 increased by 3.7% over last year.  The net earnings attributed to shareholders of $1.65 million for the quarter increased by 48.5% over last year, including a provision of $0.81 million for expenses related to the acquisition of companies as well as to the acquisition of Greiche & Scaff, announced last August.

For further information: https://www.newlook.ca/data/pdf/press/2014/en/BCI-press-release-nov-5-2014.pdf

 

As part of its expansion plans, the Calgary-based optometry network, FYidoctors, has made its entry into Quebec by merging with the Marchand Giguère Group.

Marchand Giguère and its affiliates have 70 optometry locations under various banners, including 16 independent clinics which are also joining the group through the merger. FYidoctors has over 450 optometrists in over 280 locations under the FYidoctors banner or Vision Source Canada.

The Marchand Giguère Group believes that with the Quebec market in the midst of so much consolidation and change, this new business model was the best option for optometrists who want to remain in control of their destiny.

 

For further information, click HERE.

A California court says that Allergan raises serious questions as to whether Valeant and Pershing Square engaged in insider trading.

The judge nonetheless refused to grant Allergan an injunction disallowing Pershing Square, which is Allergan’s largest shareholder, from voting at the special meeting on December 18. This meeting could determine the future of Allergan’s executives, who strongly oppose the takeover bid from Valeant and Pershing Square.

In the meantime, Allergan has admitted to having been approached by another suitor about a potential merger, which would complicate an acquisition by Valeant. Sources familiar with the matter say the other company is Actavis.

Actavis is an American pharmaceutical company. Based in Ireland, it has a U.S. administrative headquarters in the United States.

For more information: http://agn.client.shareholder.com/releasedetail.cfm?ReleaseID=880337

http://www.theglobeandmail.com/report-on-business/california-court-reprimands-valeant-pershing-over-pursuit-of-allergan/article21441111/