Warby Parker nears 6-month low on downbeat annual sales forecast

Warby Parker

28/02/2023 16:20

(Updates)
    ** Shares of sunglasses maker Warby Parker Inc  WRBY.N  fall
as much as 5.5% to a near six-month low of $12.35 in morning
trade
    ** Stock last down ~3.5% and is set to post fourth straight
session of losses
    ** Company forecasts annual sales below Wall Street
estimates, signaling demand could soften as inflation-weary
consumers curb discretionary spending
    ** WRBY expects 2023 net sales between $645 mln and $660
mln, vs analysts' est of $666.7 mln - Refinitiv
    ** However, company's Q4 net sales were up 10.2% at $146.4
mln, beating  analysts' est of $142.5 mln, helped by higher
prices
    ** Net loss for the quarter narrowed to $20.2 mln from $45.9
mln a year earlier
    ** Stock has fallen ~56% in the past 12 months

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com))