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March 17, 2022, 7:49 a.m. EDT

Warby Parker stock sinks after wider-than-expected loss

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By Tonya Garcia

Warby Parker Inc. /zigman2/quotes/229389137/composite WRBY +2.30% shares sank 12.4% in Thursday premarket trading after it reported a wider-than-expected fourth-quarter loss. The eyewear retailer posted a net loss of $45.9 million, or 41 cents per share, after a loss of $4.3 million, or 8 cents per share, last year. The FactSet consensus was for a loss of 9 cents per share. Warby Parker attributed the wider loss to a $31.6 million increase in stock-based compensation expenses and other related payroll taxes. Revenue of $132.9 million was up from $112.8 million and in line with the FactSet consensus. For 2022, the company is guiding for revenue of $650 million to $660 million. The outlook includes $15 million in lost sales from omicron disruptions, the company said. The FactSet consensus is for $688.5 million. Warby Parker stock began trading in September 2021. Shares have slumped 41.4% over the past three months while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +3.06% is down 5.7%.

/zigman2/quotes/229389137/composite
US : U.S.: NYSE
$ 13.81
+0.31 +2.30%
Volume: 11.22M
June 24, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.58 billion
Rev. per Employee
$178,305
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/zigman2/quotes/210599714/realtime
US : S&P US
3,911.74
+116.01 +3.06%
Volume: 3.46B
June 24, 2022 5:05p
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