Coastal Contacts Sets Eyeglasses Orders Record Of $1.6 Million In A Single Week
VANCOUVER, British Columbia, Jan. 26, 2011 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. (TSX:COA) (Stockholm:COA) announced today that the Company generated an eyeglasses orders record of more than $1.6 million in a single week, from January 18-24, 2011. Total units ordered for the period were approximately 23,000 pairs of eyeglasses.
"We are greatly encouraged by the sales demand Coastal is experiencing in our rapidly growing eyeglasses category," stated Steve Wallace, Coastal Contacts, Vice President of North American Sales. "Coastal is uniquely positioned to capitalize on this opportunity as we continue to build out our industry leading infrastructure which combines quality, speed of delivery and value. The customer response is very strong, and we are focused on ensuring the best customer service experience in the online eyeglasses channel."
The top selling frames during the week were:Kam Dhillon 3017 purple Derek Cardigan 7002 Black Joseph Marc 4037 Black Nike 7008 Pilgrim Guess 1598 Black Three of the top five selling frames during the week were Coastal's in house private label products, which reflects its ability to develop and market eyeglasses brands to a broad customer base. Orders is a non-GAAP measure defined as orders placed by customers in the time period referenced through our websites or our call centers. The nearest GAAP measure, sales, differs from Orders in that sales reflect orders that have shipped, net of cancellations, returns and exchanges. Coastal is reporting orders as the Company believes that its investors may use this figure to make more informed investment decisions about the Company. Orders is a non-GAAP measure that does not have any standardized meaning prescribed by Canadian GAAP, is therefore unlikely to be comparable to similar measures presented by other companies and should be considered in addition to, and not as a substitute for, sales and other measures of financial performance reported in accordance with Canadian GAAP.
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