Connect with us


Warby Parker to Open 40 New Doors as Losses Mount

Publicly traded eyewear maker aiming to cross 200-store threshold.




Warby Parker's Henderson Avenue location in Dallas, TX. | Courtesy: Warby Parker
Warby Parker’s Henderson Avenue location in Dallas, TX. | Courtesy: Warby Parker

Warby Parker (New York) plans to open 40 new stores in the year ahead, which would expand its physical footprint to 201 locations.

That was the good news from the eyewear maker’s fourth quarter earnings announcement last week. The bad news is the company posted a $45.9 million loss during the quarter, pushing its net loss for the year to $144.3 million. Its deficit for 2020 was $88.4 million.

Warby Parker attributed the higher losses to a large increase in selling, general and administrative (SG&A) costs, specifically stock-based compensation expenses and related employer payroll taxes. The company has either reported a loss or broken even every year since 2018.

Other fourth quarter and full-year highlights include:

  • Full year net revenue increased $147.1 million, or 37.4%, to $540.8 million compared to full year 2020 and increased 46.0% compared to full year 2019.
  • Fourth quarter net revenue increased $20.1 million, or 17.8%, to $132.9 million compared to the fourth quarter of 2020 and increased 41.9% compared to the fourth quarter of 2019.
  • Increased active customers 21.5% to 2.20 million year over year.
  • Average revenue per customer increased 13.0% year over year to $246.
  • Became the first public benefit corporation to go public through a direct listing (in September).


Meet the Next Generation of Smart Glasses

Ray-Ban Meta is now available with a full range of lenses, as a complete pair or edged lens. Prescription orders eligible through select insurance providers, including Eyemed and private pay. The Ray-Ban Meta collection combines iconic design with cutting-edge technology. Capture life’s best moments and livestream to Facebook and Instagram with an upgraded 12 MP camera and five-mic system. Stay connected with hands-free calls and messages. Listen to your favorite tracks through built-in speakers. Spark your creativity, get information and control your glasses with your voice – powered by Meta AI. All while keeping your phone in your pocket. For more information, visit here.

Promoted Headlines





Get the most important news and business ideas for eyecare professionals every weekday from INVISION.



Most Popular