Canada’s New Look Eyewear Announces Q3 and YTD Results

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MONTRÉAL— New Look Eyewear Inc. (TSX:BCI), the Eastern Canadian eyecare provider, has released its financial results for the third quarter and first nine months 2013 ended Sept. 28.

Revenues for the quarter reached $21.1 million, an increase of 5.4 percent over the corresponding period of last year, reported at $20.0 million. This increase was due to the addition of both new and acquired stores over the past 12 months, while comparable store sales were down marginally from the comparable quarter last year, the company said. Net earnings for the third quarter were $1.1 million compared to $1.2 million in 2012, a decline of 7 percent.

On a year-to-date basis, revenues increased by 6.5 percent to $65.4 million compared to $61.4 million last year, 2.4 percent being attributable to comparable stores. Net earnings for the first nine months were $5.2 million compared to 4.3 million in 2012. All revenues and earnings amounts are stated in Canadian dollars.

In 2013 year-to-date, the company has increased its network by four additional stores operating under the New Look banner, and concluded affiliations with two independent optical clinics, bringing its total network to 76 locations.