Coastal Contacts Inc. ("Coastal.com" or "the Company") (Nasdaq:COA)
(TSX:COA), the leading online provider of eyewear, announced today
that it has achieved a 30% increase in aided brand awareness in the
U.S. during the past six months. In an August, 2013 Ipsos-Reid
survey of brand awareness among U.S. consumers, aided awareness
grew to 22% of those surveyed compared with 17% in February, 2013.
In the same study of Canadian consumers, aided brand awareness
grew to a record 49% of those surveyed.
"The investments Coastal.com has made is resulting in a
significant shift in consumer awareness, positioning Coastal.com to
benefit as consumers migrate from traditional optical channels to
the Internet," stated Roger Hardy, Coastal.com's Founder and
CEO.
"In North America, Coastal.com has now seeded the market, having
served approximately 1.6 million unique eyeglasses customers,
establishing Coastal.com as a leader in this rapidly growing
channel. We are now focused on higher value new customers and
targeting returning customers, both of which are characterized by
higher average order sizes."
Mr. Hardy added, "We are also pleased to report that for the
month of July, 2013 the overall company achieved positive EBITDA,
demonstrating our ability to position Coastal.com in a leadership
position in the online optical channel, while building a
sustainable and profitable business."
The Company expects to report financial results for the quarter
ending July 31, 2013 on September 12, 2013.
EBITDA is a measure the Company believes is
useful in assessing performance and highlighting trends on an
overall basis. EBITDA differs from the most comparable IFRS
measure, net earnings, primarily because it does not include
interest, income taxes, depreciation and amortization, share-based
compensation expense, foreign exchange gain or loss and management
change costs.
About Coastal.com
Coastal.com is the leading manufacturer and online retailer of
eyewear products offered through a family of world class websites.
Established in 2000, the Coastal.com family of brands provides
customers with an extensive, in stock selection of prescription
eyewear, contact lenses and sunglasses. Coastal.com's vision is to
provide our customers with stylish high quality eyewear quickly, so
they can see everything life has to offer. For more information
about Coastal.com (Nasdaq:COA), visit www.coastal.com.
All statements made in the News Release which are not current
statements or historical facts constitute "forward-looking
information" within the meaning of applicable Canadian securities
laws and "forward-looking statements" as defined in Section 27A of
the United States Securities Act of 1933, Section 21E of the United
States Securities Exchange Act of 1934, the Private Securities
Litigation Reform Act of 1995, or in releases made by the United
States Securities and Exchange Commission, all as may be amended
from time to time, and the words "may", "would", "could", "will",
"intend", "plan", "anticipate", "believe", "estimate", "expect",
"goal", "target", "should", "likely", "potential", "continue",
"project", "forecast", "prospects", and similar expressions
typically are used to identify forward-looking information and
statements. Examples of such forward-looking information and
statements within this News Release include information and
statements relating to: Coastal.com's perceptions of the contact
lens and eyeglasses industry or market and anticipated trends in
that market in any of the countries in which Coastal.com does
business; Coastal.com's anticipated ability to procure products and
supplies, or the terms under which it may procure its products and
supplies; Coastal.com's anticipated business operations, inventory
levels, ability to handle specific order and call volumes, ability
to fill and ship orders in a timely manner, ability to achieve
greater marketing efficiency or similar statements; Coastal.com's
ability to increase production; Coastal.com's capital expenditure
plans; the results of further investments in Coastal.com's retail
brands; Coastal.com's relationships with suppliers; Coastal.com's
anticipated results of operations, including but not limited to
anticipated sales, revenues, earnings, tax benefits or similar
matters; the effects of seasonality; sufficiency of cash flows;
Coastal.com's perceptions regarding volatility in and impact of
foreign currency exchange rates; the effect of the current economic
climate on Coastal.com's business and consumer behavior; and
Coastal.com's ability to address challenges and opportunities
resulting from current economic conditions.
Forward-looking information and statements are based on the
then-current expectations, beliefs, assumptions, estimates and
forecasts about Coastal.com's business and the industry and markets
in which it operates. Forward-looking information and
statements are not guarantees of future performance and involve
risks, uncertainties and assumptions which are difficult to
predict. Assumptions underlying Coastal.com's expectations
regarding forward-looking information and statements contained
within this News Release include, among others: that Coastal.com
will maintain its position in the markets it operates in and expand
into other markets in a favourable manner; that Coastal.com will
have sufficient capital to continue making investments in
advertising, inventory, property, equipment and leasehold
improvements as well as personnel to support its business and new
product lines, including its eyeglasses business; that Coastal.com
will be able to generate and maintain sufficient cash flows to
support its operations; that Coastal.com will be successful in
complying with industry regulatory requirements in British Columbia
and other jurisdictions in which it operates; that Coastal will be
able to establish and/or maintain necessary relationships with
suppliers; and that Coastal.com will retain key personnel. The
foregoing list of assumptions is not exhaustive.
You are cautioned that forward-looking information and
statements are subject to a number of known and unknown risks,
uncertainties and other factors, many of which are beyond
Coastal.com's control, that could cause Coastal.com's actual future
results or performance to be materially different from those that
are disclosed in or implied by the forward-looking
information. These factors include, but are not limited to
changes in the market; potential downturns in economic conditions;
consumer credit risk; Coastal.com's ability to implement its
business strategies; competition from traditional and online
retailers; limited suppliers; limited availability of inventory;
disruption in Coastal's distribution facilities; mergers and
acquisitions; foreign currency exchange rate fluctuations;
regulatory requirements; demand for contact lenses, eyeglasses and
related vision care products; the risk that Coastal.com will not be
successful in defending against litigation; dependence on the
Internet; and the other risks detailed in Coastal.com's filings
with the Canadian securities regulatory authorities.
You should not place undue reliance on forward-looking
information and statements which are qualified in their entirety by
this cautionary note.
Forward-looking information and statements in this news release
are made as of the date hereof and Coastal.com expressly disclaims
any intent or obligation to update such forward-looking information
or statements, unless Coastal.com specifically states otherwise or
as required by applicable law.
For a complete discussion of the assumptions, risks and
uncertainties related to Coastal.com's business, you are encouraged
to review Coastal.com's filings with the Canadian securities
regulatory authorities filed on SEDAR at http://www.sedar.com.
CONTACT: Terry Vanderkruyk
Vice President, Corporate Development
Coastal Contacts Inc.
1-604-676-4498
terryv@coastal.com
or
Liolios Group Inc.
Scott Liolios or Cody Slach
1-949-574-3860
COA@liolios.com
Coachmen (NYSE:COA)
Historical Stock Chart
From May 2024 to Jun 2024
Coachmen (NYSE:COA)
Historical Stock Chart
From Jun 2023 to Jun 2024