Business
National Vision Holdings, Inc. Reports Fourth Quarter and Fiscal 2019 Financial Results
DULUTH, Ga., Feb. 26, 2020 (GLOBE NEWSWIRE) -- National Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision” or the “Company”) today reported its financial
About this update from National Vision Holdings, Inc.
[{"type":"text","content":"DULUTH, Ga., Feb. 26, 2020 (GLOBE NEWSWIRE) -- National Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision” or the “Company”) today reported its financial results for the fourth quarter and fiscal year ended December 28, 2019 and is providing its outlook for fiscal 2020.\n Fourth Quarter 2019 Summary: Net revenue increased 12.9% to $401.8 million72nd consecutive quarter of positive comparable store sales growthComparable store sales growth of 10.1%; Adjusted Comparable Store Sales Growth of 8.1%Net income increased 121.3% to $3.9 million; Adjusted Net Income increased 735.5% to $8.7 millionAdjusted EBITDA increased 37.9% to $39.6 millionDiluted EPS increased 120.2% to $0.05; Adjusted Diluted EPS increased 692.0% to $0.11 Fiscal 2019 Summary: Net revenue increased 12.2% to $1.72 billionComparable store sales growth of 6.5%; Adjusted Comparable Store Sales Growth of 6.2%Net income increased 38.7% to $32.8 million; Adjusted Net Income increased 27.3% to $66.1 millionAdjusted EBITDA increased 15.1% to $200.7 millionDiluted EPS increased 34.2% to $0.40; Adjusted Diluted EPS increased 23.2% to $0.81 Reade Fahs, chief executive officer, stated, “The fourth quarter represented a strong finish to another record year of revenues and profitability for National Vision, with double-digit growth in net revenue and Adjusted EBITDA in 2019. The team delivered our 72nd consecutive quarter of positive comparable store sales growth, demonstrating the consistency of our differentiated business model. Our fourth quarter and 2019 results reinforce our belief that our strong value message continues to resonate with patients and customers. We opened eight stores this quarter and continue to gain share in the attractive optical retail market. Last month, we were pleased to announce that, as we embark on our 30th year of optical partnership with Walmart, we will be operating five new additional Vision Centers. Every day, our 13,000-plus associates, including over 2,000 optometrists practicing in or next to our over 1,100 stores, continue to work hard to make quality eye exams and eyewear more affordable to our patients and customers throughout the United States.” Adjusted Comparable Store Sales Growth, Adjusted Diluted EPS, Adjusted Operating Income, Adjusted Operating Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and EBITDA are...