Market Pulse Archives

Aug. 11, 2022, 7:07 a.m. EDT

Warby Parker stock rallies after wider-than-expected loss, but revenue rose above forecasts

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Warby Parker Inc. (WRBY)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Warby Parker Inc. /zigman2/quotes/229389137/composite WRBY +6.48% rose 2.8% in premarket trading Thursday, after the eyeglass, contacts and vision tests company reported a wider-than-expected loss as gross margin contracted, but revenue beat forecasts. Net losses for the quarter to June 30 were $32.2 million, or 28 cents a share, after a loss of $18.8 million, or 35 cents a share, as shares outstanding increased to 114.7 million from 54.0 million. The FactSet consensus for net per-share losses was 24 cents. Revenue grew 13.7% to $149.6 million, just above the FactSet consensus of $149.5 million. Gross margin contracted to 57.7% from 59.3%, due primarily to increase sales of contact lenses, which carry lower gross margins than eyeglasses. For 2022, the company cut its guidance range for revenue to $584 million to $595 million from $650 million to $660 million, while affirming its plan to open 40 new stores. The stock has plunged 69.5% year to date through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.40% has lost 11.7%.

/zigman2/quotes/229389137/composite
US : U.S.: NYSE
$ 15.45
+0.94 +6.48%
Volume: 399,817
Sept. 28, 2022 12:11p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.67 billion
Rev. per Employee
$188,957
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,698.23
+50.94 +1.40%
Volume: 2.22B
Sept. 28, 2022 12:11p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.