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]

LEAVE A REPLY

Please enter your comment!
Please enter your name here

RELATED ARTICLES

Subscribe to the Newsletter

Subscribe

* indicates required

RECENT articles

Fairleigh Dickinson University Opens New Campus at Oakridge Park in Vancouver

Fairleigh Dickinson University will open a 70,000-square-foot Vancouver campus at Oakridge Park, bringing new weekday activity to the mixed-use development.

Fall Toronto Gift + Home Market Opens August 9: Everything Retail Buyers Need to Know

The Fall Toronto Gift + Home Market opens August 9 in Toronto, giving qualified retail buyers four days to discover suppliers, products and holiday merchandise.

Small businesses face mounting financial pressure: Merchant Growth

Ontario restaurants and small businesses are struggling with wildfire smoke, extreme heat, rising utility costs and new U.S. tariff threats. Merchant Growth's latest survey reveals growing financial strain, reduced U.S. trade and cautious consumer spending.

Leyad announces two senior appointments

Experienced leaders from First Capital REIT and Agellan join national real estate platform.

Air Canada and Hyatt Show Where Loyalty Partnerships Are Heading

Air Canada’s Aeroplan and World of Hyatt have announced a comprehensive loyalty partnership, offering members new ways to earn and redeem points. The partnership enables more integrated travel experiences across both platforms, enhancing customer loyalty.

Second Cup Appoints Joe Walker as CEO to Lead International Franchise Growth

Canadian-founded Second Cup has named Joe Walker CEO of its international franchise business as the company looks to expand its global footprint, with the Middle East serving as a strategic growth hub.

Daily Synopsis: Jul 31, 2026

Sleep Country completes Sleep Number acquisition, ranking Canada's grocery loyalty programs, Atlantic salmon prices jump in July, Giant Tiger shutting downtown Winnipeg store, Quebec gov't extends hours for 'erotic' stores, and other news.

What Couche-Tard Could Gain from Żabka Beyond 13,000 Stores

Couche-Tard’s Żabka acquisition adds more than 13,000 stores, while giving the Canadian retailer access to advanced convenience technology, compact formats and digital capabilities. Retail strategist Carl Boutet says the Polish convenience retailer’s compact stores, autonomous technology and digital capabilities could make the US$8.6-billion acquisition particularly significant for Couche-Tard’s global business.

Kate Spade New York names Tyla global brand ambassador as artist fronts fall campaign (Video)

The partnership will see Tyla featured in brand campaigns, social media content and in-store advertising, beginning with the fall campaign and continuing through additional promotional initiatives the company plans to unveil later this summer.

Casavogue Extends Summer Sale with Savings of Up to 50 Percent

Casavogue has extended its Summer Sale for a limited time, with savings of up to 50% across all categories and up to 60% on select liquidation pieces.

Couche-Tard reaches deal to acquire controlling stake in Poland’s Żabka Group in transaction valued at US$8.6 billion

If completed, the deal would be the largest acquisition in Couche-Tard's history.

Home Depot restructures leadership to streamline operations and accelerate growth strategy

At the end of the first quarter of fiscal 2026, the company operated 2,361 retail stores and more than 1,280 SRS locations across the United States, Puerto Rico, the U.S. Virgin Islands, Guam, all 10 Canadian provinces and Mexico.

Sobeys surpasses food waste reduction target five years ahead of UN goal

Empire said the food loss and waste reduction included 40.6 million pounds of food donated across Canada during fiscal 2026, while another 5.2 million pounds of food was diverted through the FoodHero program.

Employment in retail continues to increase: Statistics Canada

The monthly increase in May was concentrated in food and beverage retailers (+5,100; +1.0%), motor vehicle and parts dealers (+1,100; +0.5%) and general merchandise retailers (+1,000; +0.4%).

Loblaw Plans About 75 Store Openings in 2027 as Discount Expansion Continues

Loblaw expects to open about 75 stores in 2027 as it expands No Frills, Maxi and its pharmacy network amid sustained demand for discount grocery shopping.

Canada Goose’s Year-Round Strategy Gains Momentum as New Categories Drive Growth

Canada Goose says apparel, rainwear and windwear generated nearly 40% of first-quarter revenue as the luxury retailer expands beyond winter parkas, with Canada outperforming the U.S. market.

T&T’s Record California Debut Fuels U.S. Expansion Plans

T&T Supermarket's first California store generated the highest first-week sales in Loblaw history as the Canadian retailer accelerates its U.S. expansion.

Daily Synopsis: July 30, 2026

Shoppers Drug Mart Expanding lower-priced fresh food, Aesop expanding Canadian store network, World Cup drove international card use in Canada, Canada Goose reports positive earnings, and other news.

Shoppers Drug Mart Expands Pharmacy Care as Loblaw Tests Lower-Priced Food Offer

Shoppers Drug Mart is expanding pharmacy care clinics and testing lower-priced food as healthcare-services sales outpace front-store growth.

Aesop Expands Canadian Store Network with New CF Richmond Centre Location

Aesop, an Australian skincare retailer, is opening a boutique at CF Richmond Centre, continuing its expansion across Canada. This move marks a significant milestone in Aesop's strategy to establish standalone stores and enhance direct-to-consumer connections.