By Dhirendra Tripathi
Investing.com – Warby Parker stock (NYSE:WRBY) jumped more than 6% Friday as the eyeglass retailer raised its outlook for the year after its September-quarter sales and profit came in ahead of estimates.
The company expects current-year net revenue to come in between $539.5 million and $542 million, a year-on-year growth of 37% to 38%. It expects to close the year with a total store count of 161. It closed the third quarter with 154 stores after opening nine new ones during the period.
Higher store-count and more active customers drove net revenue up 32%, to $137 million. Active customers increased by 395,000, or 23%, to 2.15 million.
The net loss in the September quarter was $91 million, up from $41 million in the same period last year. This was mostly due to higher costs related to its direct listing on the NYSE in September.
Equity-based compensation and a stock donation to the Warby Parker Impact Foundation also offset the revenue growth and contributed to the losses.