EssilorLuxottica Shareholders Adopt All Board Resolutions at Annual Meeting

By Staff
Friday, June 26, 2020 12:27 AM CHARENTON-LE-PONT, France—EssilorLuxottica announced that (Reuters: ESLX.P) its shareholders approved all the resolutions submitted by the company’s board of directors at the 2020 annual shareholders’ meeting, held here yesterday. Among the items approved by shareholders were the company’s 2019 financial statements and the appointment of Paul du Saillant, CEO of Essilor International, as director of EssilorLuxottica. Du Saillant replaced Laurent Vacherot, who retired earlier in the year. In a statement released Thursday, EssilorLuxottica’s board of directors reiterated that they have decided not to submit a dividend distribution for the first half of 2020, a move the board initially announced in April in response to the coronavirus pandemic.

GrandVision Secures Additional Funding, Announces Amendment to Credit Facility

By Staff
Tuesday, June 23, 2020 12:30 AM SCHIPHOL, The Netherlands—GrandVision NV (EURONEXT: GVNV), the international optical retail group, said Monday that it has obtained an additional liquidity facility of €400 million as well as an amendment to its existing (2019–2024) €1.2 billion revolving credit facility (RCF).

GrandVision’s Business Update Details International Sales Recovery and Notes Consumer Shift to Online Sales

By Staff
Thursday, June 18, 2020 12:18 AM SCHIPHOL, The Netherlands—GrandVision NV (EURONEXT: GVNV) said in a business update this week that its worldwide “operational situation has developed considerably” since May when it issued first-quarter sales results that were significantly impacted by COVID-19. 

New Look Vision Group Announces the Completion of New Financing Arrangements

By Staff
Tuesday, June 16, 2020 12:21 AM MONTREAL—New Look Vision Group Inc. has finalized a new financing arrangement valued at $40 million, according to an announcement Monday. Fonds de solidarité FTQ, which initially invested in the Canadian eyecare group in 2013, “reaffirms its confidence in the company by investing an additional $40 million,” the announcement noted. The credit facility granted to New Look vision is part of the Fonds' plan to support Québec businesses during the COVID-19 pandemic. "Our rapid response to the crisis was centered primarily on the safety and well-being of our employees, associates and clients,” New Look president and chief executive officer Antoine Amiel said in the announcement.

National Vision Provides Update on Store Reopenings, April and May Sales

By Staff
Tuesday, June 9, 2020 12:24 AM DULUTH, Ga.—National Vision Holdings, Inc. (NASDAQ: EYE) , one of the nation’s largest optical retailers, provided a business update late yesterday regarding the completion of its gradual store reopenings that began in April following temporary closures in March relating to the COVID-19 pandemic.

CooperCompanies Cites ‘Unprecedented Challenges’ of COVID-19 in Second-Quarter Results Announcement

By Staff
Friday, June 5, 2020 12:27 AM SAN RAMON, Calif.—CooperCompanies (NYSE: COO) said Thursday that the coronavirus pandemic “created unprecedented challenges” in the second quarter for the company, which saw sales decline in the double-digit range during the period ended April 30.

Vision Group Holdings, Parent of TLC Laser Eye Center and Laser Vision Institute, Files for Bankruptcy, Expects Ownership Transition

By Staff
Tuesday, June 2, 2020 12:33 AM WEST PALM BEACH, Fla.—LVI Intermediate and 17 of its affiliates, including the Laser Vision Institute and TLC Laser Eye Center brands, has filed for voluntary protection from creditors in Delaware under Chapter 11 of the U.S. Bankruptcy Code. The company does business as Vision Group Holdings and the bankruptcy filing was made late last week.

Marcolin Group Notes Impact of COVID-19 on First-Quarter Sales

By Staff
Monday, June 1, 2020 12:30 AM LONGARONE, Italy—Marcolin Group reported results for its first quarter that indicated the impact of the coronavirus on its business operations over the three-month period ending March 31.

National Vision Announces Plans to Move to a Virtual Annual Meeting on June 10

By Staff
Monday, May 18, 2020 12:18 AM DULUTH, Ga.—National Vision Holdings Inc. (NASDAQ: EYE), one of the nation’s largest optical retailers, announced Friday that its 2020 annual meeting of stockholders, which is scheduled for June 10, will be conducted through virtual means only. This is due to the public health and travel concerns in light of the coronavirus (COVID-19) pandemic.

New Look Vision Reports Q1 Sales Decline, But Says Store Reopenings Are Underway and New Financing Arrangement Is in Place

By Staff
Thursday, May 14, 2020 12:21 AM MONTREAL—New Look Vision Group Inc. (TSX: BCI), a leader in the Canadian optical sector with 393 stores across Canada and Florida, reported this week that its first-quarter sales declined 4.8 percent to $68 million, a result it attributed to COVID-19 temporary store closures, as well as scheduled store closures offset by revenue from newly acquired stores.

Inspecs Group Reports Year-End Sales Rise 6.9 Percent to $61.2 Million

By Staff
Wednesday, May 13, 2020 12:24 AM BATH, England—Inspecs Group plc (AIM: SPEC), reported its final results for the year ended Dec. 31, 2019.

Alcon Reports ‘Solid’ Q1 Sales, But Sees ‘Significant Impact’ from COVID-19 on Q2 Results

By Staff
Wednesday, May 13, 2020 12:21 AM GENEVA—Alcon (SIX/NYSE:ALC), a global leader in eyecare, reported Tuesday that its worldwide sales rose 3 percent to $1.8 billion in the first quarter, which ended March 31.

AbbVie Announces Completion of ‘Transformative Acquisition’ of Allergan

By Staff
Tuesday, May 12, 2020 12:24 AM NORTH CHICAGO, Ill.—AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, has completed its acquisition of Allergan plc following receipt of regulatory approval from all government authorities required by the transaction agreement and approval by the Irish High Court, according to an announcement by the company. Under the terms of the transaction agreement, Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each Allergan share, for a total consideration of $193.23 per Allergan share (based on the closing price of AbbVie's common stock of $84.22 on May 7, 2020).

Accelmed Partners Acquires TearLab and Plans $25 Million Investment to Fund Growth, Pay Down Debt

By Staff
Tuesday, May 12, 2020 12:21 AM ESCONDIDO, Calif.—TearLab Corp. (OTCQB: TEAR), a leader in ocular surface diagnostics, has entered into a definitive agreement pursuant to which Accelmed Partners II (AP-II) will acquire TearLab. As part of the acquisition, AP-II has agreed to invest $25 million over two tranches that will occur in conjunction with the company delisting from the "over-the-counter" stock market. In addition, TearLab and its senior secured lender, CR Group, has agreed to restructure the terms of the company's outstanding senior secured indebtedness.

National Vision Holdings’ First-Quarter Results Hit By COVID-19, But Company Sees Gradual Store Reopenings and Recovery

By Staff
Friday, May 8, 2020 12:30 AM DULUTH, Ga.—Battling the impact of COVID-19, National Vision Holdings Inc.(NASDAQ: EYE) reported Thursday that its sales increased 1.8 percent to $469.7 million in the first quarter, which ended March 28.