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Business Updates

Many Tune in for First VM Leadership Summit 2021 Broadcast: VirtualEYZE!, Exploring Telehealth's Expansion and Eyecare's Expanding Boundaries

By Staff
Thursday, June 24, 2021 12:27 AM NEW YORK—Many leading retail execs, eyecare professionals, key opinion leaders and suppliers tuned in yesterday afternoon to the first virtual session of this year's VM Leadership Summit. Yesterday's session, titled VirtualEYZE!, examined the opportunities for telehealth to expand eyecare's boundaries and featured updates sharing the ophthalmic perspective from an ocular telehealth expert at the American Telemedicine Association, two experienced reimbursement executives and a first-of-its-kind discussion with a mix of eyecare practitioners and execs sharing their own experience with remote, comprehensive eye exams before, during and in the current stage of the pandemic.

Vision Expo East 2021 Concludes Show in Orlando, Brings Together Members for Education and Exhibition

By Staff
Tuesday, June 8, 2021 12:30 AM ALEXANDRIA, Va.—Vision Expo East 2021 concluded on Saturday, June 5. The four-day event, which took place for the first time in Orlando, Florida, from June 2-5 at the Orange County Convention Center, marked the first large-scale, in-person trade show for the vision care community since 2019. Organizers said the show "brought together thousands of members of the industry." VMAIL asked about attendance at the show. A spokesperson said that "Vision Expo will not be releasing attendance figures at this time."

Cooper Cos. Report 2nd Quarter Sales Gain Records

By Staff
Friday, June 4, 2021 12:30 AM SAN RAMON, Calif.—CooperCompanies (NYSE: COO) announced financial results for its fiscal second quarter ended April 30, 2021. The overall company revenue increased 37 percent year-over-year to $719.5 million. CooperVision (CVI) revenue was up 30 percent to $522.6 million, and CooperSurgical (CSI) revenue  increased 60 percent to $196.9 million. Commenting on the results, Al White, Cooper's president and CEO said, "I'm happy to report that CooperVision and CooperSurgical both posted all-time record quarterly revenues which drove record quarterly earnings. Our businesses have rebounded nicely from Covid lows and we're poised for success with daily silicone hydrogel lenses and myopia management leading CooperVision, and fertility and PARAGARD leading CooperSurgical."

New Look Vision Reports Strong Results for Q1 of Fiscal 2021

By Staff
Wednesday, May 26, 2021 12:02 AM New Look Vision Group reported financial results for the 13 week periods ended March 27, 2021, and provided updates on actions in response to COVID-19, store reopenings, on omnichannel and facility consolidation.

Are You a Top U.S. Optical Retailer? Take Part in VM's 2021 Top 50 Optical Retailers Survey, Deadline Is Extended to May 26

By Staff
Friday, May 21, 2021 12:15 AM NEW YORK—After an extraordinary year of business challenges related to the COVID-19 pandemic in 2020, Vision Monday will be publishing its signature Annual Top 50 U.S. Optical Retailers Report in its upcoming June print/digital edition this year. The deadline to take part in the survey has been extended to May 26. The industry's leading news platform is kicking off its annual survey among regional and national retailers today for the signature report, which collates and presents sales and operations data for the calendar year ending Dec. 31, 2020. "We felt the survey this year had to be designed to reflect and account for the impact of the COVID-19 health crisis that began in March 2020 and continues to reverberate," said Marge Axelrad, VM's SVP and editorial director. A link to the survey is posted HERE.

April Retail Sales Hold Mostly Steady from March and Show ‘Off the Chart’ Gains Over 2020 Shutdowns

By Staff
Wednesday, May 19, 2021 5:00 PM WASHINGTON—Retail sales were virtually unchanged from their strong performance a month before and grew dramatically year-over-year in April as the rapidly recovering U.S. economy marked a full year since the coronavirus pandemic shut down most stores during the spring of 2020, the National Retail Federation said today. “In March, we saw a surge in spending as stimulus checks came in, and that spending declined slightly in April,” NRF president and CEO Matthew Shay said. “Year-over-year growth of 28.8 percent demonstrates that household finances remain strong, and the economic recovery will likely continue to gain steam as we head into the summer months.

Views on How ECPs Are Using Technologies in 2021 Explored in Two New Jobson Research Reports

By Staff
Wednesday, May 19, 2021 12:18 AM NEW YORK—Jobson Research has issued two new reports about how ECPs are using technology in their practice.

Gartner Identifies Top 10 Data and Analytics Technology Trends for 2021

By Staff
Tuesday, May 18, 2021 12:00 PM Gartner, Inc. identified the top 10 data and analytics (D&A) technology trends for 2021 that can help organizations respond to change, uncertainty and the opportunities they bring in the next year. “The speed at which the COVID-19 pandemic disrupted organizations has forced D&A leaders to have tools and processes in place to identify key technology trends and prioritize those with the biggest potential impact on their competitive advantage,” said Rita Sallam, distinguished research vice president at Gartner.

For Retailers, Technology Will Help Retailers Adjust to ‘Rapidly Changing Conditions’ and New Consumer Mindset

By Staff
Friday, May 14, 2021 12:00 PM NEW YORK—Amid the disruption of COVID-19, and the resulting store closures, a few retail companies actually fared well. These retailers did succeed by adjusting their supply chain, managing their stocking and inventory processes, and revamping customer service, according to a recent analysis by eMarketer. The research firm cited these factors as some of the keys to success for big-box retailers like Walmart, Target, and Best Buy.
 
“Others, such as Apple, lululemon athletica, Nike and Starbucks, are focusing on innovating and modifying store experiences through digital integration, frictionless shopping, and atmospherics modified for a ‘new normal’ of social distancing and sanitization,” eMarketer added.
 
In its report, eMarketer predicted that sales for U.S. retail overall will begin to recover in 2021, climbing 3.8 percent year over year to $5.856 trillion. Following upon the outsized 33.6 percent increase in 2020, though, e-commerce sales will moderate to 13.7 percent growth this year. Brick-and-mortar retail sales will rebound from a 0.2 percent decline in 2020 to a 2.2 percent gain in 2021, according to eMarketer.

“The physical retail experience emerging in 2021 suggests that stores must still be able to adjust to rapidly changing conditions, and technology will be key to that flexibility,” the research firm noted. “For example, U.S. consumer interest in mobile payments and mobile app orders increased significantly from March to June 2020, during the first wave of the pandemic, according to a survey from Periscope By McKinsey. In the June polling, consumers also expressed interest in the use of digital screens for store navigation (22 percent) and digital shelf labels (20 percent).”
 
Of relevance to retailers, there was a smaller, but nonetheless significant, portion interested in augmented reality (AR) for product try-on and product info (16 percent each), eMarketer noted.

Are You a Top U.S. Optical Retailer? Take Part in Vision Monday's 2021 Top 50 Optical Retailers Survey By May 19

By Staff
Friday, May 14, 2021 12:15 AM NEW YORK—After an extraordinary year of business challenges related to the COVID-19 pandemic in 2020, Vision Monday will be publishing its signature Annual Top 50 U.S. Optical Retailers Report in its upcoming June print/digital edition this year. The industry's leading news platform is kicking off its annual survey among regional and national retailers today for the signature report, which collates and presents sales and operations data for the calendar year ending Dec. 31, 2020. "We felt the survey this year had to be designed to reflect and account for the impact of the COVID-19 health crisis that began in March 2020 and continues to reverberate," said Marge Axelrad, VM's SVP and editorial director. A link to the survey is posted HERE.

Millions Are Unemployed. Why Can’t Companies Find Workers?

By Staff
Tuesday, May 11, 2021 12:04 AM It’s a little shocking we’re at this point already. Businesses are champing at the bit to grow and are moving faster than applicants are willing to move.

Registration Is Open for VM's 2021 Leadership Summit, Now a Series of Conversations, Virtual Sessions and Exclusive Events

By Staff
Monday, May 10, 2021 12:27 AM NEW YORK—As all businesses and eyecare professional leaders continue to grapple with the impact of the pandemic, Vision Monday's Leadership Summit will bring forward a series of conversations, virtual sessions and exclusive events in 2021. Registration is open now for the multi-part program titled, "Creative Disruption, The New Now: How to Survive It. Why You Need It." The 2021 VM Leadership Summit will consist of two virtual session events in June and July, leading into one in-person live + virtual event in September.

Silmo Reaffirms Return of Its Live Event Sept. 24-27 at Villepinte in Paris

By Staff
Monday, May 10, 2021 12:21 AM PARIS—Organizers of Silmo encouraged visitors to "enjoy real contact again," and reaffirmed that its fall show will be a live event, to be held Sept. 24-27 at Paris Nord Villepinte.

Vision Expo Extends Free Registration, as Show Organizers Anticipate 5,000+ Attendees for Vision Expo East Orlando

By Staff
Wednesday, May 5, 2021 12:33 AM ALEXANDRIA, Va.—The Vision Council and Reed Exhibitions, organizers of Vision Expo, announced that free registration for Vision Expo East 2021, taking place June 2-5 in Orlando, Fla., will be extended indefinitely. The decision to extend the free registration deadline is based on what they describe as a "recent, notable spike in attendee registration. Mitch Barkley, vice president of trade shows and events at The Vision Council, co-owner of Vision Expo, said, “With just four weeks to go until Vision Expo East, we are expecting to have at least 5,000 attendees at the show."

Are You a Top U.S. Optical Retailer? VM Kicks Off the 2021 Top 50 Optical Retailers Survey, Deadline Is May 19

By Staff
Wednesday, May 5, 2021 12:12 AM NEW YORK—After an extraordinary year of business challenges related to the COVID-19 pandemic in 2020, Vision Monday will be publishing its signature Annual Top 50 U.S. Optical Retailers Report in its upcoming June print/digital edition this year. The industry's leading news platform is kicking off its annual survey among regional and national retailers today for the signature report, which collates and presents sales and operations data for the calendar year ending Dec. 31, 2020.