Why the Future of Warby Parker Stock Just Became Blurrier
From an online disruptor to a brick-and-mortar retailer, Warby Parker (NYSE: WRBY) is in the process of a significant transition. The prescription glasses and contact lenses retailer is expanding its physical stores to become a one-stop shop for all vision-related needs. However, its recent quarterly report showed that the company might not have a 20/20 vision.
Warby Parker, which only recently became public, opened seven new stores in its 2021 fourth quarter -- representing a 4.5% increase from its third-quarter store count of 154. Yet, the company's total revenue declined from $137.3 million to $132.9 million, or 3.2%, during the same period. This stands in marked contrast to the same periods in 2020, when its total revenue increased from $104.0 million in Q3 to $112.8 million in Q4 -- meaning that seasonality isn't likely the cause for the recent decline in revenue. In fact, management stated that its highest sales days of the year are the week between Christmas and New Year's.
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Source Fool.com
