Welcome to our dedicated page for National Vision Holdings news (Ticker: EYE), a resource for investors and traders seeking the latest updates and insights on National Vision Holdings stock.
National Vision Holdings, Inc. (symbol: EYE) is a leading optical retailer in the United States, dedicated to making quality eye care and eyewear affordable and accessible. With a strong workforce of 8,000 employees, National Vision operates through its family of optical retailers, including America's Best Contacts & Eyeglasses, Eyeglass World, Vision Centers brought to you by Walmart, Vista Optical inside Fred Meyer, and optical centers on select military bases.
Currently, the company boasts over 800 retail locations spread across 44 states, the District of Columbia, and Puerto Rico. National Vision's mission is to help people by making quality eye care and eyewear more affordable and accessible.
The company is segmented into two main operating segments: the Owned and Host segment and the Legacy segment. The Owned and Host segment includes company-owned brands like America's Best and Eyeglass World, where vision care services are provided by optometrists or independent professional corporations. This segment also includes operations within Military and Fred Meyer locations, providing eye exams through independent optometrists.
The Legacy segment focuses on managing operations and supplying inventory and lab processing services to Legacy retail Vision Centers. The majority of the company's revenue is driven by the Owned and Host segment.
National Vision is one of the fastest-growing optical retailers in the country, continually working towards its vision that everyone deserves to see their best to live their best.
National Vision Holdings (NASDAQ: EYE) reported Q3 2024 financial results with net revenue increasing 2.9% to $451.5 million compared to Q3 2023. The company achieved comparable store sales growth of 1.4% and Adjusted Comparable Store Sales Growth of 0.9%. However, the company reported a net loss from continuing operations of $(8.4) million and diluted EPS of $(0.11). Adjusted Operating Income was $14.3 million with Adjusted Diluted EPS of $0.12. The company reaffirmed its fiscal 2024 outlook while updating capital expenditure expectations. Store count grew 4.9% year-over-year, with 18 new stores opened during the quarter.
National Vision Holdings (NASDAQ: EYE) announced the results of its comprehensive store fleet review, planning to close 39 stores by fiscal 2026 and convert four Eyeglass World stores to America's Best by fiscal 2024. The company will moderate new store openings to 30-35 stores in fiscal 2025. These actions are expected to deliver ~$4 million in annualized Adjusted EBITDA improvement by end of fiscal 2026. The closures will impact revenue by $11-13 million in fiscal 2025 and $2-3 million in fiscal 2026. The company recorded $1 million in exit charges and $14 million in noncash impairment charges in Q3 2024.
National Vision Holdings (NASDAQ: EYE) has announced it will release its third quarter 2024 financial results before market opening on Wednesday, November 6, 2024. The company will host a conference call at 8:30 a.m. Eastern Time. Interested parties can pre-register for the call through the company's website investor section. A live audio webcast and related materials will be available online, with a replay accessible after the broadcast.
National Vision, Inc., a major optical retailer, has launched its 2024-2025 scholarship program for optometry students, focusing on AI and the Future of Eye Care. The program offers a total of $12,500 in scholarships, with a top prize of $7,500 and two runner-up awards of $2,500 each.
Third- and fourth-year optometry students from the U.S., Puerto Rico, and Canada are invited to submit written or video essays exploring the potential benefits and challenges of integrating AI into eye care. The program encourages students to share perspectives on how National Vision can lead in adopting these innovations to serve diverse communities and ensure access to quality care for all.
Submissions are open until January 31, 2025, with winners to be announced by March 1, 2025. Entry details are available at nvscholarship.eyesoneyecare.com.
National Vision, Inc. has announced an exclusive retail partnership with Pair Eyewear, expanding to all 1,000+ America's Best Stores. This collaboration establishes National Vision's Doctor of Optometry network as Pair Eyewear's official eye care provider. The partnership offers customers an affordable bundle including a comprehensive eye exam, one base frame, and two top frames.
The collaboration combines Pair Eyewear's customizable, stylish eyewear with America's Best's extensive reach and expertise. It aims to meet the needs of the 80% of eyewear consumers who prefer in-store shopping while offering the convenience of online purchasing.
Key features of the partnership include:
- An innovative personalized shopping experience
- Expanded accessibility nationwide
- Affordable bundles with eye exams and customizable frames
This partnership follows Pair Eyewear's investment in U.S. manufacturing facilities and expansion into global markets.
National Vision Holdings (NASDAQ: EYE) has announced its participation in the Goldman Sachs 31st Annual Global Retailing Conference. The company is scheduled to present on Wednesday, September 4, 2024, at 1:10 p.m. Eastern Time. Investors and interested parties can access a live webcast of the presentation through the company's website in the 'Investors' section. The presentation will also be archived and available on the website shortly after the event, providing an opportunity for those unable to attend live to review the content later.
National Vision, one of the largest optical retail companies in the U.S., has released its 2023 Sustainability Report, titled "A World Worth Seeing." The report highlights progress across the company's Social, Employees, Environment and Governance (SEE+G) framework. Key achievements include:
- Nearly 10 million people helped to see better and live better in 2023
- Over $4.1 million donated by National Vision and its charitable foundation, impacting more than 1.4 million lives
- $100,000 in scholarships provided to associates' children
- Hosted over 1,200 optometrists for the 2023 Continuing Education Symposium
- Continued rollout of electronic health records and energy-efficient lighting improvements
- Strengthened supplier sustainability commitments
The report aligns with SASB, GRI Standards, and UN Sustainable Development Goals.
National Vision has partnered with florence by mills™ to launch a Gen-Z focused eyewear collection in over 1,000 America's Best stores. The collection, developed with Mondottica Group, features sun and optical styles designed by Millie Bobby Brown, founder of florence by mills and an eyeglasses wearer since age 10.
The line aims to curate confidence in young wearers through pastel colors and sleek metal frames. Each frame purchase includes a comprehensive eye exam by a licensed optometrist. The collection also emphasizes sustainability, with sunglasses made from renewable acetate and recycled content.
This exclusive retail partnership makes affordable, quality, and stylish eyewear more accessible to Millie's fans and young consumers. The launch aligns with National Vision's goal to inspire eye health awareness among younger generations.
National Vision Holdings, Inc. (NASDAQ: EYE) has announced plans to repurchase approximately $218 million of its 2.50% Convertible Senior Notes due 2025 for a cash price of about $215 million plus accrued interest. To fund this, the company has secured commitments for $115 million in incremental term loans, expected to close on August 9, 2024. The repurchase is set to close around August 12, 2024, leaving about $85 million in 2025 Notes outstanding.
CFO Melissa Rasmussen stated that this opportunistic repurchase is expected to strengthen the company's balance sheet and aligns with their disciplined capital allocation plan. National Vision aims to continue making prudent decisions to build a foundation for profitable growth.
National Vision Holdings (NASDAQ: EYE) reported a 4.6% increase in net revenue to $451.7 million for Q2 2024, compared to Q2 2023. Comparable store sales grew by 2.2%, with an adjusted growth of 2.4%. The company posted a net loss of $1.0 million from continuing operations, translating to a diluted EPS of $(0.01). Adjusted operating income rose 13.8% to $14.1 million, and adjusted diluted EPS increased to $0.15. Discontinued operations, including the wind-down of the AC Lens business, resulted in a net loss of $2.1 million.
For the first half of 2024, net revenue grew by 4.2% to $934.5 million. The company opened 31 new stores and converted 20 Eyeglass World stores to America's Best stores. Operating expenses rose, with total costs applicable to revenue increasing by 6.2% and SG&A expenses by 4.4%. The company ended Q2 2024 with a cash balance of $179.5 million and total debt of $456.8 million.
National Vision revised its fiscal 2024 outlook, lowering net revenue expectations to $1.820-$1.840 billion and adjusted operating income to $57-$62 million. Adjusted comparable store sales growth outlook was also revised down to 0.5%-1.5%.
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