Warby Parker Plans 40 New Stores This Year

Warby Parker Inc. (New York), a direct-to-consumer lifestyle eyewear brand, plans to open 40 addition stores this year. The company made that disclosure in reporting its financial results for its first quarter ended March 31.

During that period, the retailer opened six new stores, giving it a total of 204 in the U.S. and Canada. And during the rest of the year, it plans to open at least 36 more.

“While we continue to be cautious about near-term trends given the uncertain macroeconomic outlook, we remain optimistic about Warby Parker’s future,” said Co-Founder and Co-CEO Neil Blumenthal. “We are still in the early stages of building our store footprint and developing our holistic vision offering and see a long runway for sustained, profitable growth in the years ahead.”

Highlights from the company’s first-quarter results include net revenue of $172 million, up 12.2 percent from a year earlier, and a GAAP net loss of $10.8 million, down by $23.3 million from a year ago.

Warby Parker was founded in 2010 as an online-only enterprise. It began opening stores three years later.