New York City’s Warby Parker Inc. (WRBY), a co-founder-led lifestyle brand, pioneers ideas, designs products, and develops technologies and designer-quality prescription glasses and contacts, and offers eye exams and vision tests online in more than 160 retail stores across the United States and Canada.
WRBY's stock declined 2.4% in price after missing analyst forecasts in its first-quarter earnings report last month. According to the company, the COVID-19 Omicron variant impacted its first-quarter revenue to the tune of some $15 million in projected missed sales, with the disruption accentuated in the latter weeks of December and in the first quarter. Furthermore, last month Goldman Sachs Group Inc. (GS) downgraded the stock to a "neutral" rating from a "buy" rating, citing fading confidence in the company’s revenue outlook.
