By Emily Dattilo
Shares of Warby Parker rose sharply after the eyeglass retailer said its wares will soon be available in some Target locations this year.
Warby Parker stock gained 5.4% to $25.04 in trading Thursday.
"Each Warby Parker at Target shop-in-shop will offer products and services -- including glasses, sunglasses, contacts, eye exams and vision tests -- that are consistent with the eyewear brand's current omnichannel experience," Warby Parker said in a press release.
The first five shop-in-shop locations will open in the second half of 2025 at stores in Illinois, Minnesota, New Jersey, Ohio, and Pennsylvania. Additional locations will open in 2026, with the opportunity for more in the years ahead.
The company also filed quarterly results on Thursday.
For its fourth quarter, it reported a net loss of 6 cents per share, while Wall Street had forecast earnings of 3 cents, according to FactSet. Net revenue of $190.6 million was above the consensus estimate of $187.6 million.
For full year 2025, the company anticipates net revenue of $878 million to $893 million, representing 14% to 16% growth from 2024. Analysts had penciled in $868.4 million. The company also said it plans to open 45 stores, including the five shop-in-shops.
Write to Emily Dattilo at emily.dattilo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 27, 2025 10:28 ET (15:28 GMT)
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