FX.co ★ Fielmann Closes Acquisition Of Shopko Optical; Lifts FY24 Sales Outlook

The Fielmann Group (FLMNF.PK) has announced the completion of its acquisition of Shopko Optical. The transaction will contribute six months' worth of business sales to this year's figures. However, Fielmann indicated that Shopko Optical's profit contribution for fiscal 2024 is expected to be minimal. Former CEO of Shopko Optical, Russ Steinhorst, has been appointed as Executive Vice President and Chief Financial Officer of Fielmann USA.

Additionally, the Fielmann Group has revised its sales outlook for 2024, now expecting approximately 2.3 billion euros, up from the previously projected 2.2 billion euros. The EBITDA margin remains consistent with the earlier issued guidance, according to the Group.