New Look Eyewear Inc. Reports Record Sales for Q2

MONTREAL, Quebec—Canadian eyewear company, New Look Eyewear Inc. (TSX:BCI), reported that revenues for the second quarter ended June 29, 2013 reached $24.0 million, an increase of 12.7 percent over the corresponding period of last year.

Revenues from comparable stores increased by 9.3 percent, the company said. Net earnings for the quarter were $2.7 million compared to $2.0 million.

On a year-to-date basis, revenues increased by 7.0 percent compared to last year, 4.3 percent being attributable to comparable stores and the balance to the stores added since the beginning of 2012. Net earnings for the six months were up 28.6 percent.

During the second quarter, the company said it increased its network by three additional stores operating under the New Look banner, and concluded affiliations with two independent optical clinics, to bringing its total network to 76 locations.

Martial Gagné, president of New Look, commented, "The second quarter of 2013 surpassed all previous quarterly milestones regarding revenues, EBITDA, net earnings and cash flows, and represents an outstanding performance by the company and all its management and associates."

Antoine Amiel, vice-chairman of New Look, added, ''During the quarter, the company added five locations to its network consisting of one Greenfield store and two acquired stores operating under the New Look banner and also entered into arrangements with two affiliated independent clinics operating in markets and market segments not currently served by New Look. We are excited about this development and expect this growth to continue."

New York operates a network of 74 corporate stores in Eastern Canada under the New Look banner, two affiliated clinics and a laboratory using state-of-the-art technologies.