Here’s How Much Money Americans Say They Need to Live Comfortably

By Staff
Thursday, May 26, 2022 4:19 PM The pandemic was a catalyst for all types of change, and that includes how comfortable many Americans are with their nest eggs, according to a recent feature in Fast Company. 

Americans say they need an average net worth of $774,000 to be “financially comfortable,” and an average net worth of $2.2 million to be “wealthy,” according to the Charles Schwab Modern Wealth Survey 2022.

The online survey, which was conducted in February and comprises answers from 1,000 Americans between the ages of 21 and 75, shows not only that people think they need more to be considered wealthy than they did in 2021 ($1.9 million), but that they need more to feel like they’re on solid financial footing, too.

That’s perhaps the most interesting takeaway from the data: The average amount needed to attain financial comfort is down significantly from five years ago. In 2018, the average amount needed to attain monetary contentment was $1.4 million—but by 2021, it was only $624,000 and was bumped up to $774,000 this year. That may be due to the fact that people simply learned to adjust their lifestyles and their financial outlooks after living through the pandemic, experts say.

Shareholders Adopt Board Resolutions at EssilorLuxottica 2022 Annual Shareholders’ Meeting

By Staff
Thursday, May 26, 2022 12:21 AM CHARENTON-LE-PONT, France—The EssilorLuxottica annual general meeting was held yesterday at the Carrousel du Louvre in Paris and EssilorLuxottica shareholders approved all 16 resolutions submitted by the board of directors to the ordinary and extraordinary general meeting, including the compensation policy applicable to the company’s executive corporate officers.

MacuLogix Moves to Wind Down Operations as a 'Going Concern,' as Liquidity Issues Become Insurmountable

By Staff
Wednesday, May 25, 2022 12:30 AM MIDDLETOWN, Pa.—MacuLogix Inc., a company founded a decade ago to support ECPs with the tools and resources needed to diagnose and monitor patients with age-related macular degeneration (AMD), is winding down operations and has assigned its assets to a firm that specializes in working with creditors in business liquidation processes, according to a filing in the Delaware Court of Chancery late last week. This assignment of assets includes patent rights and related intellectual property. Maculogix, which conducted a months-long search for a buyer or new investors, owes approximately $23 million to secured creditors, according to the court filing.

Alcon to Acquire Eysuvis in a Move That Adds to Its Ophthalmic Eye Drop Portfolio

By Staff
Tuesday, May 24, 2022 12:27 AM GENEVA—Alcon (SIX/NYSE: ALC) said on Monday that it has signed an agreement to acquire Eysuvis (loteprednol etabonate suspension) 0.25% pharmaceutical eye drops from Kala Pharmaceuticals Inc.

Rodenstock Acquires Indo Optical, Accelerating its Expansion in Key Growth Markets

By Staff
Monday, May 23, 2022 12:24 AM MUNICH—The Rodenstock Group, a leading global manufacturer of ophthalmic lenses, announced on May 19 that it has entered into an agreement to acquire Indo Optical, a top Spanish lens maker.

Super Optical International Is Purchased by Engineering and Software Executive

By Staff
Friday, May 20, 2022 12:33 AM CINCINNATI, Ohio—Lyric Optical, doing business as Super Optical International, maker of the FastGrind Modified Lens Surfacing System and other optical products, announced the completion of a 100 percent sale of the company to Andy Hawes, an engineering and software executive. Details of the transaction were not disclosed. The previous owners of the Cincinnati-based company include Don Gilman, John Corsini and Hugh McManus. Gilman and Corsini have announced their retirement from the optical industry. McManus, who joined the company in 2012 and has worked on customer satisfaction, product development and quality control, will remain with the company and lead the sales team.

Zeiss’s Half-Year Revenue Up 20 Percent Over Year-Ago

By Staff
Thursday, May 19, 2022 12:30 AM OBERKOCHEN, Germany—Despite challenging market conditions, the Zeiss Group continued to make significant gains in the first half of fiscal year 2021/22 ending March 31, 2022. Revenue increased by 20 percent to €4.1 billion versus €3.4 billion in the prior year. At €736 million, earnings before interest and taxes (EBIT) were also significantly higher than the €591 million in the prior-year period. The EBIT margin is 18 percent. The high level of incoming orders also continued in the first half of the new fiscal year, with incoming orders increasing to €5.49 billion versus €4.20 billion in year-ago period.

Warby Parker Reports 10 Percent Increase in Q1 Sales as ‘Active’ Customer Count Climbs 18 Percent, But Net Loss Also Widens

By Staff
Tuesday, May 17, 2022 12:27 AM NEW YORK—Against a backdrop of disruption due to the Omicron variant that was first felt in the last weeks of December and continuing through the first quarter, Warby Parker Inc. (NYSE: WRBY) on Monday reported that its Q1 revenue rose 10.3 percent to $153.2 million as both active customer count and average revenue per customer increased also in the quarter ended March 31. However, the retailer's net loss totaled $34.1 million in the quarter, primarily as a result of an increase in SG&A (selling, general and administrative) expenses, according to its announcement.

Carl Zeiss Meditec Reports Growth in First Half of 2021/22, Despite Strained Supply Chain

By Staff
Monday, May 16, 2022 12:24 AM JENA, Germany—Carl Zeiss Meditec generated revenue of €855.4 million in the first six months of the fiscal year ending March 31, 2022 versus €767.4 million the prior year, an 11.5 percent increase compared with the same period of the prior year (+10.7 percent adjusted for currency effects).

Kits Reports Slight Sales Decline in First Quarter Total Revenue and Notes Large Growth in Eyeglasses Revenue

By Staff
Friday, May 13, 2022 12:24 AM VANCOUVER, Canada—Kits Eyecare Ltd. (TSX: KITS / OTCQX: KTYCF), a direct-to-consumer glasses manufacturer and digital eyecare provider, reported this week that its revenue in the first quarter dipped roughly 2 percent to $20.1 million.

Final Two Companies Reach a Settlement in Long-Running Contact Lens Price-Fixing Suit

By Staff
Friday, May 13, 2022 12:21 AM JACKSONVILLE, Fla.—Bringing a long-running price-fixing case closer to a conclusion, a federal judge in Florida this week gave preliminary approval to proposals from Alcon Vision LLC and Johnson & Johnson Vision Care that would settle their roles in the matter, according to a May 9 court filing.

Alcon Reports Double-Digit Sales Growth in Vision Care, Surgical in First Quarter

By Staff
Thursday, May 12, 2022 12:24 AM GENEVA—Calling its performance “a strong start to the year,” Alcon (SIX/NYSE:ALC) reported that worldwide sales increased 14 percent on a reported basis to $2.2 billion in its first quarter ended March 31.

Hoya’s Reports Solid Growth for 4Q Fiscal Year 2022 and Full-Year

By Staff
Thursday, May 12, 2022 12:15 AM TOKYO—Hoya Group reported on May 6 that sales for the fourth quarter of the consolidated fiscal year ending March 31, 2022 amounted to 169,594 million yen, an increase of 12.0 percent from the same period of the previous fiscal year. Total revenue was 173,844 million yen, up 13.5 percent from year-ago. Hoya’s quarterly profit, before tax, amounted to 53,777 million yen, up 30.2 percent. After-tax quarterly profit amounted to 40,147 million yen, also a 30.2 percent increase. The quarterly profit margin before tax was 31.7 percent, representing a year-on-year increase of 4.4 points, the company said.

Amid Challenges of Pandemic, National Vision Reports Q1 Declines in Revenue and Same-Store Sales, With Move to Expand ‘Remote’ Exam Initiative

By Staff
Wednesday, May 11, 2022 12:27 AM DULUTH, Ga.—National Vision Holdings Inc. (NASDAQ: EYE) on Tuesday morning reported that its net revenue declined 1.2 percent to $527.7 million in the first quarter, as comparable-store sales fell 4.9 percent (down 6.8 percent on an adjusted basis). Net income decreased 30.6 percent to $30.1 million in the period ended April 2 as the challenges of the COVID-19 pandemic had an impact across the retailer’s more than 1,200-location store base. National Vision also noted that, in response to capacity challenges, it will accelerate the rollout of its remote medicine initiative, and now projects offering remote exams in 300 locations by year’s end, an increase from the at least 200 locations previously planned for 2022.

Bausch Health Companies Inc. Announces ‘Stable’ First-Quarter 2022 Results

By Staff
Wednesday, May 11, 2022 12:21 AM LAVAL, Quebec—Bausch Health Companies Inc. (NYSE/TSX: BHC) yesterday reported $1.918 billion in total revenue for the first quarter of 2022, as compared to $2.027 billion in the first quarter of 2021, a decrease of $109 million, or 5 percent.