- Kits Eyecare (TSX:KITS) notched record-breaking sales over Black Friday and Cyber Monday, representing the best weekly performance in company history, building conviction in extending its multi-year track record of profitable growth
- Kits is a vertically integrated Canadian eyecare company providing affordable prescription glasses and contact lenses to customers around the world
- The retail stock last traded at C$15 and has added 61.46 per cent year-over-year
Kits Eyecare (TSX:KITS) notched record-breaking sales over Black Friday and Cyber Monday, representing the best weekly performance in company history, building conviction in extending its multi-year track record of profitable growth.
The company earned C$5.8 million during the week of November 25th to December 1st, up by 22 per cent year-over-year (YoY), processing orders for a record 16,800 pairs of glasses, up by 35 per cent YoY, supported by repeat customers accounting for more than 65 per cent of revenue and marketing spend representing only 14.3 per cent of revenue.
November revenue, for its part, increased about 25 per cent YoY, setting a new monthly record, supported by glasses revenue growth of 54 per cent YoY driven by strong customer adoption and brand loyalty.
“This was a breakthrough week for Kits and for our mission to build a leading consumer eyecare brand in North America,” Roger Hardy, co-founder and chief executive officer of Kits Eyecare, said in Wednesday’s news release. “More than 16,000 glasses ordered and over C$5.8 million in revenue reflect a clear shift – customers want eyecare that puts them first: precise, affordable, delivered fast. Our team executed at every level and customers across the US and Canada rewarded that work. We’re closing 2025 with real momentum.”
Kits’ recent financial success continues a growth story that has seen revenue more than double from C$82.4 million in 2021 to C$193.4 million in 2024, with operations gradually ascending into net income profitability from a C$14.6 million loss in 2021 to a C$3.1 million gain in 2024 and C$5.5 million over the trailing twelve months.
The company ended Q3 with net income growth of 1,367.4 per cent YoY thanks to record-setting figures for new and returning customers, prompting Hardy to set investor expectations in the Q3 news release, stating that “we remain deeply enthusiastic about the prospects of our many high-growth, high-margin initiatives and confident they will continue to create value and transform the eyecare category in the coming quarters.”
About Kits Eyecare
Kits is a vertically integrated Canadian eyecare company providing affordable prescription glasses and contact lenses to customers around the world.
Kits Eyecare stock (TSX:KITS) last traded at C$15 and has added 61.46 per cent year-over-year.
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