All Coronavirus articles
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News briefs
Germans’ willingness to buy is in “freefall”
The propensity to buy of German consumers is “in freefall,” according to the think tank GfK. Hit by strict Covid-19 related lockdowns, consumer confidence in Germany is seen falling to -15.6 in February from -7.5 in January, which was revised from an original reading of -7.3. “The closure of the ...
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ArticleCooperVision expands manufacturing facilities as demand grows
CooperVision announced the expansion of manufacturing facilities located in North America and Europe due to growing demand for its contact lenses. It also believes that the Covid-19 pandemic will force eye care professionals (ECP) to review their long-term business practices. The Gilbert site, situated in suburban Phoenix and currently producing ...
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ArticleGrandVision maintains positive comparable sales growth in Q4
GrandVision enjoyed an 0.8 percent year-over-year increase in comparable revenues in the fourth quarter, in line with the performance posted in the previous three months, thanks to its core European markets. But on a reported basis, the top line declined by 1.7 percent as the group suffered from the resurgence ...
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News briefs
Apollo to let staff help fight Covid-19
Apollo-Optik, the German eyewear retailer which belongs to GrandVision, is allowing staff take time off with pay to do voluntary work. The program aims to alleviate the strain on the healthcare system with the resurgence of the Covid-19 pandemic. Jörg Ehmer, the CEO of Apollo, said that he was deeply ...
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News briefs
Carl Zeiss Meditec warns that Covid will continue hit results
Carl Zeiss Meditec posted revenues of €1,336 million in the fiscal year ended in September, down by 8.5 percent year-over-year on a reported basis and by 8.7 percent when adjusted for currency effects. The performance of the German medical technology company was affected by the Covid-19 pandemic. It warned that ...
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News briefs
New anti-Covid measures in Germany
In concert with the governments of the individual Länder, the federal government of Germany has ordered the lockdown of all the brick-and-mortar stores that sell non-essential products, starting on Wednesday, Dec. 16. Opticians are mentioned among the few exceptions. The new restrictions came after a spike in new contaminations from ...
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News briefs
French suppliers to keep normal services during the new lockdown
Faced with a new wave of the Covid-19 pandemic, the French government decided last week to implement another national lockdown as of Nov. 1 and for at least one month, closing all retail businesses considered as non-essential. As with the first lockdown in the spring, opticians are allowed to remain ...
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ArticleEssilorLuxottica sees sharp improvement in Q3
EssilorLuxottica bounced back in the third quarter after second-quarter revenues were nearly halved amid Covid-19 lockdowns. Sales in the three months to Sept. 30 were down by 5.2 percent from the year-ago quarter to €4,085 million, or by 1.1 percent at constant exchange rates. The company did not release earnings ...
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News briefs
French economy risks “collapse” with new lockdown
A new total or partial Covid-19-related lockdown could lead to a “collapse” of the French economy, according to the Confederation of Small and Medium-sized Enterprises (CPME). CPME warned that companies are currently “much weaker” than in March, when the government introduced a lockdown, and many, especially the smaller ones, would ...
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ArticleEU agrees on common rules for travel restrictions due to Covid-19
The European Council has adopted a recommendation on a coordinated approach to travel restrictions in response to the Covid-19 pandemic. The council comprises the heads of state or government of the countries forming the European Union, as well as the president of the council and of the European Commission. ...
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ArticleOpti2021 cancelled over Covid-19
Opti2021, which was scheduled Jan. 8-10, 2021, in Stuttgart, has been cancelled because of the resurgence of the Covid-19 pandemic. “This decision was a result of rising infection rates, travel restrictions and feedback from the industry,” said the organizer of the German trade show, GHM Gesellschaft für Handwerksmessen. The company ...
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ArticleLuxottica shares Covid-19 screening program with Versace
Luxottica, the Italian frame making unit of the EssilorLuxottica group, has decided to share with Versace its Covid-19 prevention, detection and research program currently being used in Italy. Luxottica has held the eyewear license of the Italian fashion house for the past 17 years. Luxottica developed the prevention and screening ...
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News briefs
Global bankruptcies may rise by 35% over 2 yrs
Global corporate bankruptcies are expected to rise by 35 percent in 2021 compared with 2019 because of the Covid-19 pandemic, representing an average annual compound growth of 16 percent in 2020 and 2021, an annual average similar to the one seen during the 2007-2009 crisis, according to a study from ...
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ArticleInspecs takes over Norville’s manufacturing operations
(Update) Inspecs has bought the manufacturing operations of The Norville Group that was placed into administration after becoming insolvent. The assets were bought from the administrator, BDO LLP, for £2.4 million in cash (€2.6m-$3.0m). The acquisition includes £1.2 million (€1.3m-$1.5m) of freehold property for Norville’s Gloucester site and the remainder ...
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ArticleHow are retailers managing excess stock in Covid-19 times?
Managing stock has always been a tricky part of any business. But it becomes even more so when demand evaporates overnight as occurred with the outbreak of the Covid-19 pandemic and the subsequent lockdowns worldwide, prompting manufacturers and retailers to be nimble and explore various different solutions.
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News briefsCooperVision names Doug Bairner country manager for U.K., Ireland
CooperVision, a division of CooperCompanies that produces soft contact lenses, has appointed Doug Bairner as country manager for the U.K. and Ireland, replacing Debbie Olive who has been promoted to senior vice president for Europe. The U.K. is CooperVision’s third largest market globally. According to his LinkedIn account, Bairner ...
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News briefs
GrandVision obtains extra funding, covenant relief for 2020
GrandVision has obtained an additional liquidity facility of €400 million as well as an amendment to its existing €1,200 million revolving credit facility (RCF), running to 2024, providing covenant relief for 2020. The additional liquidity facility is provided by five banks and will be available in the event the RCF ...
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ArticleEssilorLuxottica sees first signs of recovery
EssilorLuxottica is seeing the “first signs of recovery” as lockdowns introduced worldwide to slow down the spread of the Covid-19 pandemic are lifted. In a prepared message delivered to shareholders at the company’s annual general meeting, the executive chairman Leonardo Del Vecchio and executive vice-chairman Hubert Sagnières indicate that the ...
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News briefs
Essilor Italia donates extra 3,000 protective goggles to hospitals in Lombardy
Essilor’s Italian unit has donated an additional 3,000 protective goggles to about 10 hospitals in the Italian region of Lombardy as part of the effort to combat the Covid-19 pandemic. In March, the lens manufacturer had already distributed more than 700 goggles it had in stock to health facilities in ...
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News briefsFielmann active in Covid-19 combat
Fielmann, the German optical retailer, and the Fielmann family, which owns it, have been active in taking part in the combat against the Covid-19 pandemic. The family donated 1 million surgical masks to each of the states of Brandenburg, Hamburg and Schleswig-Holstein. The 3 million masks were bought through the ...
