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- Cedric Rossi
Mister Spex: Q1 numbers less negative than feared; trends improved in ...
Yesterday, Mister Spex posted reassuring Q1 numbers considering the negative calendar effect for prescription (i.e. Earlier Easter) and demanding comparison base in Germany. Against signs of an acceleration in April, management reiterated the FY24 sales and margin outlook, as well as a sequential i
- Cedric Rossi
- Clement Genelot
- Loic Morvan
- Paul Rouviere
- Philippine Adam
On the shelves now: Consumer Weekly #23
In this Consumer Weekly newsletter, we provide a brief overview of the key factors affecting our Consumer coverage, from Luxury & Consumer goods to Retail & E-commerce and Food & Ingredients. This week, we look at the recovery in global passenger air traffic. Happy reading!
- Cedric Rossi
Mister Spex: slow but steady margin improvement
Cautious FY24 sales guidance is explained by a persistently tough retail environment in Germany and key marketing initiatives set to drive sales growth in H2 2024. On a positive note, the FY24 aEBITDA outlook implies another sequential improvement in margins, again mainly driven by GM-expansion. Po
- Cedric Rossi
Mister Spex: FY23 results in line and focus on sustainable growth for ...
Final FY23 results released this morning are broadly in line with pre-announced numbers on 31st January: with FY23 sales up 6% to EUR223 driven by market share gains in Germany (+10% vs. market at +3%) and FY23 aEBITDA close to EUR1m, marking a EUR9m improvement vs. PY. Pending positive results fro
- Cedric Rossi
US eyewear market: looking at a half-full glass for 2024
The 2023 holiday season proved to be a good vintage, as evidenced by stronger-than-expected Q4 revenue performances from our entire Optical sample. Yet, macro uncertainty and a lingering impact from wait-and-see customer behaviour in prescription prevented companies from delivering a more upbeat ou
- Cedric Rossi
US eyewear market: chilly summer
The summer proved to be particularly chilly for the eyewear sector given a negative sunglass category and persisting weak consumer demand for prescription. However, recent weeks have seen some reassuring signs such as more predictable customer behaviour returning to pre-Covid patterns and normalisi
- Cedric Rossi
Q3 numbers and current trading showed resiliency in a challenging envi...
Mister Spex was able to post resilient Q3 numbers against a series of unfavourable headwinds (low consumer sentiment, bad weather, tough comps) thanks to good progress in its L4L efficiency programme. Ahead of a crucial month of November, Mister Spex had a strong month in October both in prescripti
- Cedric Rossi
Headed in the right direction
Better-than-expected Q2 2023 results confirm that Mister Spex continued to gain market share and made good progress in its L4L efficiency programme in a market environment that has just started to stabilise in Germany. While Q3 sales and profit trends might be less dynamic than in Q2 due to softer
- Cedric Rossi
US eyewear market: Resilient H1 and good vibes for H2
Initial fears of a soft first half for the US eyewear market proved to be wrong as the half-year period ended with a fairly solid performance in Q2, helped by a stronger-than-expected US economy. Whereas there are clear signs of consumers holding back spending due to inflation, eyecare providers ar
- Consumer Team
- Cedric Rossi
Gradual margin improvement to come in 2023
As demonstrated by Q1 results showing a sequential improvement at the GM and aEBITDA levels, Mister Spex has made good progress in its L4L efficiency programme. Management is confident that aEBITDA margin will improve further quarter after quarter as the results from L4L ramp-up. On the path to mar
- Consumer Team
- Consumer Team
- Cedric Rossi
Q1 set to be the first step on the road to margin recovery
So far, Q1 publications within our Optical & Eyewear sample have shown resilient trends across Europe despite a volatile and challenging macro environment. Interestingly, sales of prescription eyewear have started to pick up, driven by improving consumer sentiment and significant pent-up demand
- Consumer Team
- Cedric Rossi
Good vibes confirmed
As evidenced by FY22 numbers and the FY23 outlook, Mister Spex is successfully adapting its business model to the post-Covid-19 era, on top of uninterrupted market share gains in Germany. Although Mister Spex provided no update for MT targets, it is making good progress in executing its Lean 4 Leve
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