Warby Parker reports earnings miss, reiterates 2022 outlook
Yahoo Finance Live anchors discuss first-quarter earnings for Warby Parker.
Video Transcript
BRAD SMITH: You know what is good for you? Being able to see, your vision.
JULIE HYMAN: Yes, true.
BRAD SMITH: Warby Parker, they missed estimates--
JULIE HYMAN: I kill everything joyful for Sozz.
BRIAN SOZZI: Well, then I should be dead already.
JULIE HYMAN: I'm so sorry.
BRIAN SOZZI: Because I had barbecue and outside my dad used to make me when I was eight. I should be dead already, maybe soon. Who knows?
JULIE HYMAN: I'm so sorry.
BRAD SMITH: Warby Parker, we were taking a look at their shares a moment ago here. We've got the alliteration going, though, for Weber and Warby Parker, at least, but anyway, exciting. Approximately $15 million in estimated lost sales due to the Omicron variant. You know, this company coming into the start of the pan-- not the start of the pandemic-- the start of their life as a publicly traded company, they were leaning more so into contact lenses.
And that's something that I continue to check in on, particularly as they report quarter over quarter here. They actually did see active customers increase 18% to 2.23 million. But then additionally here, they actually more than doubled coming back to the contact lenses, more than doubled the revenue of their contact lens offering. That's a major opportunity for them.
JULIE HYMAN: Except the margins are lower in the contact lens business.
BRIAN SOZZI: Except added here.
BRAD SMITH: I think it's a little bit of a fly in the ointment there.
