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Warby Parker Files for Direct Listing on NYSE

Prescription eyewear provider Warby Parker files a Securities and Exchange Commission Form S-1 registration statement for a direct listing on the NYSE.

Prescription eyewear provider Warby Parker on Tuesday filed a Securities and Exchange Commission Form S-1 registration statement for a direct listing of its Class A common stock on the New York Stock Exchange.

The registration statement will become effective after the SEC completes its review process, subject to market and other conditions. 

Warby Parker intends to list its Class A common stock on NYSE under the ticker WRBY, according to a Tuesday company statement.

In a direct listing, instead of raising new outside capital in an initial public offering, a company's existing shareholders convert their stakes into stock that is listed on an exchange.

The New York company, which launched in 2010, provides designer quality prescription glasses and contact lenses, as well as eye exams and vision tests online and in over 145 retail stores in the U.S. and Canada.

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Warby Parker generated $270.5 million in revenue with $20.4 million in losses in the six months ended June 30.  It had $393.7 million in revenue last year and losses of $55.9 million, the Wall Street Journal reported.

Last week Alcon, which provides contact lens products and other eyecare services, posted better-than-expected earnings for the latest quarter. 

In the quarter surgical net sales of $1.2 billion doubled year over year with strong increases across implantables, consumables and equipment, the company reported. 

For the full year, the company now expects diluted earnings between $2 and $2.10 a share, up from its previous expectation of between $1.85 and $1.95 a share. Analysts in the FactSet survey are expecting earnings of $1.77 a share for the year.

Alcon now expects revenue between $8 billion and $8.2 billion, up from its previous view between $7.8 billion and $8 billion. Analysts are expecting revenue of $7.22 billion. 

Shares of Alcon rose 52 cents, or 0.6%, to $81.21 Tuesday.