New Look Reports Record Results for 3Q 2018

Canadian optical retailer New Look Vision Group reported record results for the third quarter ended Sept. 29, 2018. Revenues increased by 32.0 percent over last year to $72.9 million, mainly as a result of New Look’s acquisition of the Iris group in 2017, as well as comparable store sales growth. Comparable store sales orders rose 0.2 percent compared to the third quarter of last year, marking New Look’s 17th consecutive quarter of comparable store sales growth.

Adjusted EBITDA reached $13.9 million, an increase of 28.6 percent over last year. Adjusted cash flows from operating activities were $13.6 million, an increase of 27.1 percent over last year.

“The third quarter was a solid quarter with positive financial and operating results as we continued to build the New Look Vision Group platform for future growth both organically and by acquisition, in the consolidating Canadian eyewear market,” said Antoine Amiel, president and CEO of New Look Vision. “The Group continues to execute its strategic growth plan generating synergies as well as maintaining focus on deleveraging efforts”.