KITS reports that its sales has grown in Q2
by CM Staff
KITS reports that in Q2 2022, eyeglasses delivered increased more than 70% per cent year over year.
VANCOUVER — Kits Eyecare Ltd. says that in Q2 2022, KITS delivered more than 74,000 pairs of eyeglasses. KITS reports that in Q2 2022, eyeglasses delivered increased more than 70% per cent year over year. They reportedly achieved this while reducing marketing spend on eyeglasses compared to Q2 2021.
KITS says that their eyeglasses selection has grown to over 750 styles and brands including seasonal sunglasses collections. Returning customers grew to over 21,000 pairs of eyeglasses, nearly 30% of all eyeglasses delivered. The KITS vertically integrated onshore optical lab which includes the ability to make digital progressive lenses, has reportedly allowed the company to avoid supply chain disruptions and to maintain a healthy gross margin, while delivering prescription glasses to customers.
KITS says that their cash balance improved to $19 million in the quarter, and inventory remained balanced during the quarter to protect against future supply chain concerns.
In August 2022 KITS will announce their Q2 results. Final numbers could vary.