Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Warby Parker sales rise 32% as eyeglass retailer’s losses widen in third quarter

by
November 12, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

J.P. Morgan Says Now Could Be a Good Time to Buy Cybersecurity Stocks; Here Are 2 Names With Promising Growth Potential

2 LiDAR Stocks Under $10 With Over 100% Upside Potential; J.P. Morgan Says ‘Buy’

Co-CEOs, Neil Blumenthal & Dave Gilboa of Warby Parker at the NYSE, September 29, 2021.

Source: NYSE

Warby Parker reported Friday that its third-quarter revenue rose 32% from year-ago levels, but its losses widened as costs associated with its recent direct listing and stock-based compensation ate into sales.

The eyeglasses maker’s shares rose less than 1% in early trading following Warby’s first financial report as a public company. It went public on the New York Stock Exchange via a direct listing on Sept. 29.

Warby’s net loss for the three-month period ended Sept. 30 grew to $91.1 million, or $1.45 per share, compared with a loss of $41.6 million, or 78 cents a share, a year earlier.

The company reported $65 million in stock-based compensation expenses, $23.9 million of costs tied to its direct listing and $7.8 million in expenses from a stock donation to the Warby Parker Impact Foundation.

Warby also said that as it growsni its contact lenses business, which is about 5% of sales today, those transactions are less profitable and therefore can be a drag on margins.

Revenue grew 32% to $137.4 million from $104.1 million. Sales were up 45% on a two-year basis.

Neil Blumenthal, co-founder and co-CEO, said in an interview that consumers’ shopping habits are beginning to revert to pre-pandemic times, as more people come into Warby’s stores versus buying online.

“But we don’t care where that final transaction occurs,” Blumenthal said. “And we’ve still found more than 70% of our customers are browsing and shopping and interacting with us on our website and on our app before they transact with us.”

The company said active customers totaled 2.15 million, up 23% from 2020 levels.

For the full year, Warby expects revenue to be between $539.5 million and $542 million, representing as much as a 38% jump from a year earlier, or 46% growth on a two-year basis.

Co-founder and co-CEO Dave Gilboa said Warby typically sees a sales boost at the very end of December, as consumers try to use up their flexible spending accounts and other insurance benefits before the New Year.

The company is still planning to open 35 stores by the end of the year, bringing its total count to 161 locations.

Warby shares closed Thursday at $53.51, down almost 1% from its opening trade price of $54.05.

Find the earnings press release from Warby Parker here.

ShareTweetPin

Related Posts

J.P. Morgan Says Now Could Be a Good Time to Buy Cybersecurity Stocks; Here Are 2 Names With Promising Growth Potential

by
January 28, 2023
0

S&P 500 4,070.56 +10.13(+0.25%)   Dow 30 33,978.08 +28.67(+0.08%)   Nasdaq 11,621.71 +109.30(+0.95%)   Russell 2000 1,911.46 +8.39(+0.44%)   Crude...

2 LiDAR Stocks Under $10 With Over 100% Upside Potential; J.P. Morgan Says ‘Buy’

by
January 28, 2023
0

S&P 500 4,070.56 +10.13(+0.25%)   Dow 30 33,978.08 +28.67(+0.08%)   Nasdaq 11,621.71 +109.30(+0.95%)   Russell 2000 1,911.46 +8.39(+0.44%)   Crude...

What will the Fed and Jerome Powell do next week?

by
January 28, 2023
0

Jittery U.S. investors are still in “bad news is good news” mode because they want to see interest rates decline....

My Bank Closed My Account. What Do I Do Now?

by
January 28, 2023
0

S&P 500 4,070.56 +10.13(+0.25%)   Dow 30 33,978.08 +28.67(+0.08%)   Nasdaq 11,621.71 +109.30(+0.95%)   Russell 2000 1,911.46 +8.39(+0.44%)   Crude...

COVID Jan 27, 2022: Update on Cases, Hospitalizations and Deaths

by
January 28, 2023
0

by Calculated Risk on 1/27/2023 09:58:00 PM On COVID (focus on hospitalizations and deaths). Data is now weekly. Weekly deaths...

Next Post

Why Gold Isn't Protecting You From Runaway Inflation This Time

IRS Announces Tax Brackets, Other Inflation Adjustments for 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com