Safilo Board Approves New Stock Option Plan, Announces Board Member Departure

By Staff
Thursday, March 26, 2020 12:17 AM PADOVA, Italy—The board of Safilo Group S.p.A. ( SFL.IM) announced it has resolved to propose at the next shareholders’ meeting a new Stock Option Plan 2020-2022 reserved to executive directors who are also employees and other employees of Safilo Group S.p.A. and/or other companies within the Safilo Group. The meeting for this will be convened in an extraordinary session to resolve on the proposal of an issuance against cash, without a capital increase, up to a maximum number of 7,000,000 ordinary shares without par value, with the exclusion of pre-emption rights pursuant to Article 2441 of the Italian Civil Code.

GrandVision Postpones Shareholders’ Meeting and Lowers 2020 Forecast in Response to COVID-19

By Staff
Tuesday, March 24, 2020 12:27 AM SCHIPHOL, The Netherlands—GrandVision NV (EURONEXT: GVNV) has provided an update on the impact of COVID-19 on its business, and outlined some of the measures it is taking to “actively manage the risks to its customers, employees and operations.” In addition, GrandVision said it has decided to postpone its annual general meeting until June 30. The meeting had been scheduled for April 24. GrandVision is the parent company of ForEyes in the U.S. market, and is in the midst of being acquired by EssilorLuxottica, a transaction that the company said it still expects to complete in the planned time frame.

New Look Vision Group Reports Record Results for Q4 and Year End Fiscal 2019, Provides COVID-19 Response

By Staff
Monday, March 23, 2020 12:21 AM MONTREAL, Québec—New Look Vision Group Inc. (TSX: BCI), reported financial results today for the period ended Dec. 28, 2019.

EssilorLuxottica Launches Share Buyback Program

By Staff
Wednesday, March 18, 2020 12:15 AM CHARENTON-LE-PONT, France—EssilorLuxottica (ISIN: FR0000121667) said yesterday it has launched a share buyback program, saying that it reflected "the Group's confidence in its value creation and long-term prospects." To implement this share buyback program, EssilorLuxottica has granted a mandate to an investment services provider for the purchase of up to 3,000,000 EssilorLuxottica shares, depending on market conditions, over a period which started on March 17, 2020 and will last until May 27, 2020. The shares acquired are intended to be awarded or transferred to employees and corporate directors of EssilorLuxottica and affiliated companies, especially in the context of profit-sharing plans, bonus and performance share awards, stock option plans, and employee share ownership plan, the company said. 

EssilorLuxottica Reports Strong Results for 2019

By Staff
Monday, March 9, 2020 12:27 AM CHARENTON-LE-PONT, France—EssilorLuxottica posted strong results for the year ended Dec. 31, 2019. Full year revenue rose to €17.4 million, up 7.4 percent.

CooperCompanies Report First Quarter 2020 Revenue Gains

By Staff
Friday, March 6, 2020 12:27 AM SAN RAMON, Calif.—CooperCompanies (NYSE: COO) reported a 3 percent year-over-year revenue increase to $646.2 million for the fiscal first quarter ended Jan. 31, 2020. The solid performance was driven by gains in both its CooperVision (CVI), its contact lens business and CooperSurgical, its products businesses. CVI's revenue climbed 3 percent to $485.2 million, and CSI's revenue rose 2 percent to $161.0 million. "CooperCompanies is off to a strong start to fiscal 2020 as we continue successfully implementing our strategic objectives,” commented Albert White, Cooper’s president and CEO.

Alcon's Endicott Seeks to Build on First-Year Progress, Invest in ECP Relationships and 'Complete the Swing' to a Standalone Company

By Staff
Monday, March 2, 2020 12:24 AM GENEVA—With its first year of operating as a standalone independent company just about wrapped up, Alcon (SIX/NYSE:ALC) is pleased with its progress but expects to build upon this initial success as it unlocks the company’s full potential in the eyecare sector. This was the message from chief executive officer David Endicott, who has been leading Alcon since last April.

Arbor Centers for Eyecare and Chicago Eye Institute Form New PE-Backed Ocular Partners Inc. Organization

By Staff
Friday, February 28, 2020 12:30 AM CHICAGO and LOS ANGELES—Chicago Eye Institute (CEI) and Arbor Centers for EyeCare, two of the leading ophthalmology practices serving the Chicago market, have entered into a strategic partnership with MoonSail Capital LLC and Plenary Partners to form Ocular Partners Inc., according to an announcement. The new entity formed by this transaction will be “the premier physician-led eyecare group in greater Chicago,” the announcement noted. The investment by Los Angeles-based MoonSail and Plenary of Chicago will support growth initiatives of best-in-class ophthalmic practices throughout the Midwest region. The financial terms of the transaction were not disclosed.

U.K.-Based Inspecs Group PLC Goes Public on the London Stock Exchange's AIM Market

By Staff
Friday, February 28, 2020 12:27 AM BATH, England—Inspecs Group raised a total of €23.5 million in the eyewear company's initial public offering yesterday on the AIM market of the London Stock Exchange. The Bath-based firm, which manufactures and distributes eyewear products to retail partners around the world, said it raised the amount for the company through a placing of 12.1 million shares at 195 pence each. Peel Hunt, the adviser, broker and sole bookrunner on the IPO, placed 36.2 million existing shares on behalf of selling shareholders at the same price, raising another €70.5 million in gross proceeds. Following admission to the exchange, Inspecs now has a market capitalization of €138.0 million, the company announced. The company is trading under the ticker 'SPEC' and the ISIN: GB00BK6JPP03.

Alcon Reports 'Strong Growth' in Sales for Full Year 2019 as Core Operating Profits Improve

By Staff
Wednesday, February 26, 2020 12:24 AM
GENEVA—Alcon (SIX/NYSE:ALC) reported Tuesday financial results for the full year 2019 that showed worldwide net sales of $7.4 billion, an increase of 3 percent (5 percent on a constant currency) basis), as core operating income grew 4 percent (11 percent at constant currency). This marked the third consecutive year of top-line growth on a constant currency basis, Alcon said in its announcement. The eyecare company noted that its business has benefited “from steady improvements in innovation, new product flow and strong commercial execution.”

Bausch Health Cites B+L Business as a Factor in Company’s 2019 ‘Resurgence’ and Strong Performance

By Staff
Thursday, February 20, 2020 12:21 AM LAVAL, Quebec—Bausch Health Companies Inc. (NYSE/TSX: BHC) reported Wednesday that it achieved sales growth of 5 percent in the fourth quarter and 3 percent for the full year of 2019. In addition, Bausch said the fourth-quarter results marked the eighth consecutive quarter of total organic revenue growth. Fourth-quarter revenues totaled $2.224 billion (an increase of $103 million compared with $2.121 billion in the year-ago period), while adjusted EBITDA totaled $898 million. The company also reported a GAAP net loss of $1.516 billion in the fourth quarter, which compares with a net loss of $344 million in the year-ago period.

Financing Start-Up Firm Sunbit Expands into Optical Retail Market with Credit Options for Patients

By Staff
Wednesday, February 12, 2020 12:21 AM LOS ANGELES—Sunbit, a tech company that provides financing options to patients and consumers, has expanded into the area of optical retail with its consumer credit services. The firm said this week that it has set up its platform within the offices of three leading regional optical retailers: Eye Doctor’s Optical Outlets of Florida, Dr. Tavel of Indiana, and Total Vision Optometry in California.

Allergan Reports Sales Gains for Both Fourth Quarter and Fiscal Year 2019 as Deal With AbbVie Nears

By Staff
Tuesday, February 11, 2020 12:33 AM DUBLIN—Allergan plc (NYSE: AGN), which is in the midst of being acquired by AbbVie, reported Monday that its full-year 2019 revenue increased 1.9 percent to $16.1 billion, while fourth quarter revenues rose 6.6 percent to $4.35 billion.

Carl Zeiss Meditec Reports Double-Digit Growth in Both Strategic Business Units

By Staff
Tuesday, February 11, 2020 12:21 AM JENA, Germany—Carl Zeiss Meditec generated revenue of €369.7 million in the first three months of fiscal year 2019/20, which corresponds to an increase of 14.2 percent (adjusted for currency effects: +12.7 percent) compared with the prior-year period of €323.6 million. Both strategic business units achieved significant increases in revenue. Earnings before interest and taxes (EBIT) rose as a result of the increase in revenue, to €56.8 million compared with the prior-year period of €48.1 million. The EBIT margin increased further, to 15.4 percent compared with the prior-year period of 14.9 percent.

EssilorLuxottica’s Proposed Acquisition of GrandVision Moves to a Phase II Review by European Commission

By Staff
Friday, February 7, 2020 12:24 AM CHARENTON-LE-PONT, France—EssilorLuxottica SA and GrandVision NV said Thursday that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica.