Warby Parker rises as quarterly beat overshadows forecast cut

Warby Parker

11/08/2022 16:29

** Shares in online prescription glasses seller Warby Parker
 WRBY.N  rise 16.5% to $16.52 and are on course for their best
day ever
    ** Warby Parker beats revenue estimates and posts a
smaller-than-expected loss for the second quarter as sales of
contact lenses, which attract high-spending customers, more than
double  urn:newsml:reuters.com:*:nBw1kHhf6a
    ** However, Warby Parker slashes 2022 net revenue forecast
to between $584 million and $595 million from a prior range of
$650 million to $660 million, blaming lingering effects of the
pandemic as well as the impact of inflation on consumer spending
    ** "Big picture, we expect Warby Parker has runway for share
gains in the eyewear market," Stifel analyst Jim Duffy writes in
a note
    ** Shares, which opened at $54.05 on their U.S. market debut
in September, have fallen nearly 65% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))