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New Look Announces Record Q3 Revenues

Montréal, Québec – New Look Vision Group Inc. announced its financial results for the third quarter ended September 30, 2017 and its quarterly dividend.

New Look Vision reported record revenues of $55.2 million and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $10.8 million for the third quarter ended September 30, 2017, representing increases of 12.8% and 35.6% respectively over last year. The revenue increase was mainly due to the net addition of 19 stores in the last 12 months as well as same store sales growth of 0.9% over last year. This revenue growth as well as significant improvement in operating expense ratios resulted in the strong adjusted EBITDA performance.

Adjusted net earnings attributed to shareholders for the third quarter were up significantly at $4.1 million compared to $2.8 million in 2016. Adjusted net earnings per share for the quarter compared to the third quarter of 2016 were up at $0.29 per share. Net earnings attributed to shareholders were $3.4 million, compared to $2.1 million last year, the increase being mainly due to higher revenues, controlled expense growth, and lower equity-based compensation.

Antoine Amiel, the President of New Look Vision, stated that: “I am pleased to report that Q3 was a strong quarter of revenue and earnings growth, resulting from a continued comparable store and new store sales growth, a strong focus on improving operating expense ratios and from generating synergies from recent acquisitions. Subsequent to quarter’s end, we announced the completion of the acquisition of Iris The Visual Group, strengthening our leadership position across Canada with a network of 378 stores.”

Year-to-date revenues and adjusted EBITDA reached a record of $161.6 million and $29.6 million respectively, which represent increases of 12.2% and 15.6% respectively over last year. Net earnings attributed to shareholders were $7.3 million compared to $8.0 million last year. Net earnings adjusted to remove the impact of acquisition-related costs, equity-based compensation, and other non-comparable costs were $11.1 million, or $1.4 million over last year. Comparable store sales year-to-date were up 2.5% over last year.

Click HERE for the full press release.

 

Essilor Canada: A Commitment to Sustainable Development 

Sustainability: A Strategic Focus

Essilor has always believed that fulfilling its mission to provide everyone, everywhere, with quality vision care solutions to protect and correct their eyesight needed to be achieved within the framework of sustainable development. The company has thus developed a three-pillar approach: Reducing our environmental footprint, Caring for our people and Working with society, that materializes this long-time strategic focus and guides its decisions. Essilor is also committed to help advance Sustainable Development Goals as defined by the United Nations in 2015 to end poverty, protect the planet and ensure prosperity for all, over the next 15 years. At this time, the Essilor Group actively contributes to 13 of the SDGs. Essilor Canada has embraced this commitment to sustainable development as well and made it a strategic priority. Under the leadership of its Environment, Health and Safety team, considerable progress was made.

Essilor Canada’s Best Practices for Sustainability

Water conservation was the first aspect to be tackled, with energy conservation and waste management next on the agenda. A range of projects has allowed Essilor Canada to reduce its overall water usage per lens by half in less than four years, thus decreasing energy consumption. We also decreased our paper usage by five million pages in just a few years and our packaging for edged and mounted lenses was redesigned so that part of the plastic could be eliminated or replaced with recyclable/re-usable materials. All along, Essilor Canada’s Environment, Health and Safety team takes every occasion to educate and motivate employees by providing training, organizing special activities and sharing our progress.

Our dedication to environmental conservation is also reflected in the laboratory equipment we supply to eye care professionals, for example the National Optronics dry-cut edger. Our traditional systems use minimal water when on recirculating pump, and our flagship and new lab edgers, Mr. Blue and Pro E 600, have a dry cut milling function which reduces water consumption by almost half.

Recognition for Essilor’s Sustainable Business Model

Recognized for its sustainable business model, Essilor Canada is featured in the book The Path Forward, Insights on a sustainable future from Canada’s corporate leaders, put together by Bullfrog Power®, a Canadian green energy retailer operating in Canada. “This was a great opportunity to share our best practices, challenges and most significant learnings with other industries and organizations”, explains Christophe Derrien, Vice President Partner Laboratories, Quality & Environment, Health and Safety. “Working as a community, within the company and the industry, as well as with other industries, is key to developing sustainability”.

At the international level, as Infoclip.ca previously reported, Essilor has been selected again by the Dow Jones Sustainability Index World and Europe for its corporate sustainability leadership, and ranked second in the Health Care Equipment and Supplies sector. As well, for the 14th consecutive year, Essilor has been included in the FTSE4Good – a global investment index designed to identify companies that demonstrate strong environmental, social and governance practices, as reported on Infoclip last September. The inclusion of Essilor International in two leading sustainability indices underlines the Group’s position as one of the world’s best performing companies in terms of sustainable development.

Click HERE for the full press release.

 

Vuarnet Receives Entreprise du Patrimoine Vivant Award

Legendary French sunglass brand Vuarnet announces that the brand has recently received the prestigious ‘Entreprise du Patrimoine Vivant’ (EPV). EPV is awarded by the French state to acknowledge French companies that exhibit superior craftsmanship and industrial excellence. Established in 2005, EPV recognizes companies that reconcile tradition and innovation, know-how and creation, work and passion, heritage and the future, the local and the international.

“It is a special honor to receive the Entreprise du Patrimoine Vivant as we celebrate our 60th Anniversary,” said Lionel Giraud, CEO of Vuarnet. “Vuarnet is proud of our French heritage and remains committed to innovation while delivering excellence in design and manufacturing.”

The Vuarnet factory located outside of Paris produces mineral lenses that are emblematic of the company, using a process that requires 17 manufacturing steps, interspersed with strict testing. Once these are completed, each lens is engraved with a tiny V on a ski, as a guarantee of its authenticity. Vuarnet introduces new styles each season while continuing to manufacture their iconic styles beloved by generations.

Mexx Eyes: Fashionable Metal Panto

Style 2711- No frills, refreshingly young and cool. Super fine-rimmed Panto made of metal with trendy double bridge. The sleek design remains subtly in the background and perfectly accentuates the minimalist design of the style. In terms of colour, the frame shines in bright gold or a delicate rose. Matt poppy red and azure blue – also with matt finish – complement the colour palette. Absolutely hip, but at the same time pleasantly unobtrusive. A real fashion highlight. We like! Mexx Eyes – Glasses for every day. For real people. For people who live life to the fullest, preferring authenticity to perfection.

Distributed by Lanctôt:  www.rlanctot.com

Researchers Identify Key Protein in Diabetic Retinopathy

Researchers found that inhibiting a certain protein reduced diabetic retinopathy, according to an article published October 23rd in The Journal of Clinical Investigation. The protein was identified as ARF6 (reduced ADP-ribosylation factor 6), a protein involved in amplifying and maintaining levels of vascular endothelial growth factor (VEGF).

Wendy Zhu, assistant professor of Internal Medicine at University of Utah Health, explained, “What is exciting about this study is that we and our collaborators identified a compound (NAV-2729) that inhibits ARF6, which is crucial for the development of diabetic retinopathy.”

By inhibiting ARF6, blood vessel leakage and overgrowth of blood vessels in the retina were significantly reduced.

“ARF6 acts like a traffic cop at a busy intersection within a cell,” says Dean Li, vice president, Head of Translational Medicine at Merck & Co. and senior author on the paper. “ARF6 orchestrates multiple inflammatory signals that contribute to inflammation common in many diseases, including diabetic eye disease.”

Injections of ARF6 inhibitor were found to be more effective at reducing inflammation than anti-VEGF injections, the current standard of treatment, which is effective in only 40 percent of patients.

Shannon Odelberg, associate Professor of Internal Medicine at U of Utah, was hopeful that these results would have implications even beyond diabetic retinopathy, “We think these results are important because they identified a mechanism by which ARF6 controls VEGF receptor signaling and therefore may have much broader implications, extending to other diseases that involve VEGF receptor activation, such as cancer.”

More information: https://healthcare.utah.edu/publicaffairs/news/2017/10/diabetic-eye.php

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