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Business Updates

The Power Practice to Host Live Webinar to Help Optometrists Understand How the Current Economy Will Affect Their Business

By Staff
Monday, June 27, 2022 12:15 AM NEW YORK—"Independent Optometry in the Post-Covid Economy" will be an exclusive live webinar to be hosted by Dr. Bethany Fishbein, CEO of The Power Practice, later this week. The goal of the discussion, to be held Wednesday, June 29 at 8:00 p.m. EST,  is to help optometrists understand how the current economy will affect their businesses and their finances in this post-COVID era and to know what they can be doing now to ensure future success. The Power Practice is a leading optometric consulting company that has been empowering optometry practice owners for over 20 years.

'Help Wanted?' Tell Us About Your Staffing Challenges in a Special Pop-up Poll

By Staff
Thursday, June 2, 2022 12:18 AM NEW YORK—In light of today's pressing staffing challenges, Vision Monday is interested in your views about the current business climate for hiring, retaining and developing talent as well as the recruitment efforts being used by independents, regional and national retailers. To better understand the hiring market, VM is partnering with its sister Jobson website, Women In Optometry on a Pop-Up Poll this week. The deadline for taking part is Monday, June 6. Eyecare professionals of all types are encouraged to take a few minutes to answer a short series of questions about what's been working best and what their priorities are when it comes to the current staffing situation. A link to the survey can be found here.

Show Organizers Announce Submissions Are Being Accepted for Innovation Stage Speakers and Content for Vision Expo West 2022

By Staff
Thursday, May 26, 2022 12:27 AM ALEXANDRIA, Va.—The Vision Council and RX, co-organizers of Vision Expo, today announced that submissions are being accepted for Innovation Stage speakers, presentations and panels for Vision Expo West, taking place September 14-17, 2022 in Las Vegas at the Venetian Expo & Convention Center.

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.

Pearle Vision Names Kathleen Steele as SVP and General Manager

By Staff
Wednesday, May 25, 2022 12:27 AM NEW YORK—Pearle Vision announced it has named Kathleen Steele as senior vice president and general manager. Steele, who has spent the last 11 years with Luxottica Retail North America, will lead the optical retail brand with over 500 locations across North America.

Top 50 U.S. Retailer Submissions Being Accepted Through May 31 for VM's Annual Top 50 U.S. Optical Retailers Report

By Staff
Tuesday, May 24, 2022 12:18 AM NEW YORK—Vision Monday will be publishing its signature Annual Top 50 U.S. Optical Retailers Report in its upcoming June print/digital edition. A link to the survey is posted here. The current deadline to submit to be considered for inclusion in the Special Report ihas been extended through Tuesday, May 31. The optical industry's leading news platform's annual survey collates and presents sales and operations data for regional and national retailers for the calendar year ending Dec. 31, 2021.

Analysis: 'Retail Apocalypse': Wall Street Shaken by Inflation-Induced Earnings Hits

By Staff
Friday, May 20, 2022 8:00 AM This is a little bit of a retail apocalypse. It was Walmart (on Tuesday) and everybody thought it was a one-off. Now that Target missed earnings (by) a lot more than Walmart even did, they're scared that the consumer is not as strong as everybody thinks.

opti 2022 Wraps Up Special Spring Edition in Munich

By Staff
Friday, May 20, 2022 12:21 AM MUNICH, Germany—opti 2022 concluded in Munich, Germany on May 15 after three days at Fairground Munich. From May 13 to 15, the show saw about 13,000 visitors from 71 countries, according to show organizers, with about three quarters of visitors saying their main aim at the show was to “exchange ideas with colleagues in the industry and to initiate business relationships.” This special spring edition of opti, the first time the show has been held in May, showcased 368 exhibitors from 25 countries, including a number of first-time exhibitors.

Target Posts a Stunning Drop in Profit. Stock Plunges

By Staff
Friday, May 20, 2022 12:04 AM We faced unexpectedly high costs, driven by a number of factors, resulting in profitability that came in well below our expectations, and well below where we expect to operate over time.

20/20 Europe: Rodenstock Reports Strong Growth for 2021

By Staff
Thursday, May 19, 2022 11:39 AM The Rodenstock Group has confirmed its long-term growth objectives with its results for the 2021 financial year. In the year of the acquisition by Funds advised by Apax Partners, Rodenstock succeeded in strengthening its position as leader in biometric lenses and outperformed the revenue targets ending the year with net sales of €494 million euros an increase over last year’s revenues of €401 million. Significant investments in research and development are paying off: the increase in net sales was clearly driven by the ongoing successful execution of the B.I.G. VISION strategy. Anders Hedegaard, CEO of the Rodenstock Group, said, “Thanks to our strategic shift toward market-leading lens technology, we have achieved an increase in market share in our core countries, as well as sustainable double-digit sales growth. Read More

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.

Are You a Top 50 U.S. Retailer? Submissions Still Being Accepted for VM's Annual Top 50 U.S. Optical Retailers Report

By Staff
Wednesday, May 18, 2022 12:18 AM NEW YORK—Vision Monday will be publishing its signature Annual Top 50 U.S. Optical Retailers Report in its upcoming June print/digital edition. A link to the survey is posted here. The current deadline to submit to be considered for inclusion in the Special Report is no later than Wednesday, May 25. The optical industry's leading news platform has kicked off this annual survey among regional and national retailers for the signature report, which collates and presents sales and operations data for the calendar year ending Dec. 31, 2021.

What Your Younger Employees Are Really Thinking

By Staff
Wednesday, May 18, 2022 12:04 AM I do not do social media with people that I work with. You don’t need to see what my mom ate for breakfast. And then I go into the office, and you’re like, your mom’s omelet looked delicious. No.

What's Going On With Crypto?

By Staff
Tuesday, May 17, 2022 11:35 AM You may have heard recently that Bitcoin and other cryptocurrencies are dropping in value pretty dramatically. Head over to NPR for a look at what's going on, why it's happening and what it could mean for the future of cryptocurrency.

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.