KITS Eyecare Boosts Q3 Revenue Outlook

Date:

Kits at Yew and Cornwall in Vancouver, BC (Image: Kits.ca)

Share post:

Vertically integrated Vancouver-based KITS Eyecare Ltd. has announced an upward revision to its Q3 2024 revenue guidance. The Toronto Stock Exchange-listed company (TSX: KITS) now expects to surpass its previously projected range of $39 million to $41 million.

The revised outlook anticipates a year-over-year growth rate exceeding 32%. The adjustment comes on the heels of a record-breaking week of ordered sales, totalling approximately $3.5 million for the week ending August 31, 2024. Notably, KITS achieved record sales in Canada during this period, significantly boosting confidence in the company’s Q3 performance.

Initially, KITS had provided a Q3 2024 revenue guidance range of $39 million to $41 million in its Q2 earnings release. However, as the quarter draws to a close, stronger-than-expected demand and improved performance have prompted management to revise the outlook upwards. 

While revenue projections have been adjusted, the company maintains its outlook for Adjusted EBITDA as a percentage of revenue between 3% and 5%. The stability in profitability expectations alongside increased revenue forecasts suggests effective cost management and operational efficiency.

KITS’ upward revision aligns with its strategy to deliver consistent growth and operational excellence. 

KITS operates as a digital-first eyecare brand, offering customers a vast selection of contact lenses and eyeglasses. The company’s product range includes exclusive KITS-designed items and leverages a robust suite of online vision tools. By employing an efficient digital platform backed by industry-leading manufacturing capabilities, KITS can offer competitive prices and personalized products to Canadian consumers.

The company’s focus on innovation is evident in its pursuit of cutting-edge technologies. KITS continually develops and implements online eyewear fitting tools and virtual try-on features for glasses.

KITS’ primary market is currently Canada, and the company’s growth strategy and digital-first approach positions it for potential expansion. KITS’ performance in Canada may serve as a benchmark for similar ventures in other markets.

Related news: Vancouver-Based Eyewear Company KITS Sees Record-Breaking Increase in Production Despite Intense Competition [Interview]

RELATED ARTICLES

Subscribe to the Newsletter

Subscribe

* indicates required

RECENT articles

Toronto Waterfront Retail Market Evolves as Eastern District Builds Out

Toronto’s waterfront retail market is evolving as new businesses, experiential concepts, transit investment and major eastern waterfront development create new commercial opportunities.

Lunaro Hospitality opens first restaurant with chef Justin Friedlich in Toronto

Shay Ristorante is named after Friedlich’s daughter and is described as a personal expression of his heritage and story, with a focus on creating a dining experience centred on family and Italian culinary traditions.

Canadian Grocery Supply Chains Face Rising Costs and Disruption Risks: Capgemini

Canadian grocers face tariff pressures, raw-material shortages and limited logistics alternatives as retailers diversify suppliers and strengthen supply-chain resilience.

Larry’s Catch opens a new warehouse in Vancouver as the brand makes inroads into Western Canada

The new facility will allow the brand to strengthen its delivery network, lower shipping costs and make its premium, wild-caught Canadian seafood more accessible to customers across British Columbia, Alberta and Saskatchewan.

OK Tire Launches National Video Series Spotlighting the People ‘Behind the Bay Doors’ (Video)

Documentary-style series puts community, entrepreneurship, and Canadian business at the forefront of national growth strategy.

Nightmare Bar Brings an Immersive Halloween Experience to Calgary

Calgary is getting a new Halloween destination filled with themed cocktails, interactive entertainment and unexpected scares.

Daily Synopsis: October 1, 2026

Tsawwassen Mills plans a large H Mart grocery and entertainment expansion while CF Chinook Centre adds Old Navy, SportChek, and Winners to boost retail offerings. In Quebec, La Cordee is shutting, and other news.

Why Canadian Retailers Are Losing Sales They’ve Already Won

Checkout friction can cost Canadian retailers thousands in sales. Konek can help merchants offer a simple and trusted payment experience.

La Cordée Closure Ends Six-Year Turnaround Attempt in Quebec Outdoor Market

Quebec outdoor retailer La Cordée is shutting down after 73 years, ending a six-year turnaround that included new ownership and store expansion. The retailer returned to creditor protection in July 2026 with more than $13 million in obligations.

Tsawwassen Mills Marks 10 Years with H Mart, TM Wander and New Entertainment Uses

Tsawwassen Mills marks 10 years as Central Walk expands the 1.2-million-square-foot centre with TM Wander, recreation and entertainment uses. A roughly 30,000-square-foot H Mart anchor is also targeted to open around Christmas 2027.

IKEA Canada celebrates 50 years in Canada

To mark the milestone, IKEA Canada is focused on affordability with 50% off one iconic IKEA product every weekend in October.

Canadian Retail Supply Chains Face Scrutiny as $63.3B in Imports Linked to Labour Risk

World Vision estimates $63.3 billion in Canadian imports were associated with documented child- or forced-labour risks in 2025, led by electronics and apparel, as Ottawa considers stronger border enforcement that could raise traceability demands for retailers.

Iconic outdoor lifestyle brand L.L.Bean reimagines its flagship store in Freeport, Maine

The reimagined Flagship store and campus, which is visited by many Canadian tourists each year,  immerses customers in the outdoor lifestyle inspired by Maine and surrounds them with the products designed to enjoy it.

CF Chinook Centre adding three major retailers

Old Navy, SportChek and Winners will be joining the tenant mix at Calgary's most popular shopping centre.

Honestly Good Chicken Fingers and Serruya Private Equity Announce Joint Venture to Fuel Global Growth

New partnership will support expansion of the Canadian-born restaurant brand across North America and international markets

Niagara Falls Tourism Faces Weather Challenges as Rain and Flooding Hit 2026 Summer Season

Niagara City Cruises says poor weather has reduced walk-up visits while committed travellers remain resilient, with operators looking to the fall shoulder season. Niagara City Cruises says poor weather has reduced walk-up visits while committed travellers remain resilient, with operators looking to the fall shoulder season.

Iconic Colombian coffee brand Juan Valdez expands to Canada

Juan Valdez is entering Canada for the first time as part of its North American expansion strategy, bringing the quality, origin and heritage of 100% Colombian premium coffee to Canadian consumers.

Daily Synopsis: September 30, 2026

Canada's Weston family moves to acquire UK chemist Boots for $9bn, The Brick sells Scarborough site, Ikea opens small-format London ON store, Fortinos opens Popcorn Kitchen in Brampton store, Pattison calls out grocery store violence in BC, and other news.

Primaris REIT Announces $411 Million Acquisition of Upper Canada Mall

990,114 square foot mall located on 76 acres of land in the Greater Toronto Area.

Salesforce Brings AI Agents Closer to Checkout and Store Inventory at Dreamforce

Salesforce expands agentic commerce at Dreamforce 2026, connecting AI agents with checkout, store inventory and customer data as adoption grows in Canadian retail.