Business
CORRECTING and REPLACING National Vision Holdings, Inc. Reports First Quarter 2020 Financial Results
Net revenue increased 1.8% to $469.7 million Negative comparable store sales growth of (2.9)%; Adjusted Comparable Store Sales Growth of (10.3)% Net income
About this update from National Vision Holdings, Inc.
[{"type":"text","content":"\n\nNet revenue increased 1.8% to $469.7 million\n\n\nNegative comparable store sales growth of (2.9)%; Adjusted Comparable Store Sales Growth of (10.3)%\n\n\nNet income decreased 44.1% to $9.7 million; Diluted EPS decreased 44.6% to $0.12\n\n\nAdjusted EBITDA decreased 0.3% to $61.0 million\n\n\nAdjusted Operating Income decreased 10.8% to $38.1 million\n\n\nAdjusted Diluted EPS decreased 9.4% to $0.28\n\n\n DULUTH, Ga.--(BUSINESS WIRE)--\nFirst sentence of \"Conference Call Details\" section should read: \"...May 7, 2020, at 8:00 a.m. Eastern Time\" (insead of \"...May 7, 2020, at 10:00 a.m. Eastern Time\").\n\n\nThe corrected release reads:\n\n\nNATIONAL VISION HOLDINGS, INC. REPORTS FIRST QUARTER 2020 FINANCIAL RESULTS\n\n\n\nNet revenue increased 1.8% to $469.7 million\n\n\nNegative comparable store sales growth of (2.9)%; Adjusted Comparable Store Sales Growth of (10.3)%\n\n\nNet income decreased 44.1% to $9.7 million; Diluted EPS decreased 44.6% to $0.12\n\n\nAdjusted EBITDA decreased 0.3% to $61.0 million\n\n\nAdjusted Operating Income decreased 10.8% to $38.1 million\n\n\nAdjusted Diluted EPS decreased 9.4% to $0.28\n\n\n\nNational Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision” or the “Company”) today reported its financial results for the first quarter ended March 28, 2020.\n\n\n“The COVID-19 pandemic has affected all of us as individuals and most U.S. companies,” stated Reade Fahs, chief executive officer. “Our hearts go out to those suffering from the disease and our praise and appreciation go out to the heroic front line healthcare workers throughout the country who are treating those living with the disease.”\n\n\nMr. Fahs further commented, “As safety concerns mounted in mid-March, we acted rapidly with the best interests of the safety of our teams, customers, and communities in mind. With the temporary closing of our stores on March 19, our quarterly results are a tale of two periods. Pre-COVID-19, in January and February, our business was robust with continued sales momentum building on the strong results in the latter half of 2019. In response to the COVID-19 crisis and our temporary store closure, we shifted to solidifying our financial well-being, focusing on our liquidity position and implementing numerous near-term cost reduction efforts.”\n\n\nMr. Fahs continued, “While our doors were temporarily l...