Business
National Vision Holdings, Inc. Reports Fourth Quarter and Fiscal 2022 Financial Results
Fourth quarter 2022 highlights: Net revenue of $468.9 million, a decrease of 1.9% from Q4 2021 Comparable store sales growth of (5.7)% & Adjusted Comparable
About this update from National Vision Holdings, Inc.
[{"type":"text","content":"\nFourth quarter 2022 highlights:\n\n\nNet revenue of $468.9 million, a decrease of 1.9% from Q4 2021\n\n\nComparable store sales growth of (5.7)% & Adjusted Comparable Store Sales Growth of (2.4)% from Q4 2021\n\n\nNet income of $(9.3) million and Diluted EPS of $(0.12) compared to $6.2 million and $0.07, respectively, in Q4 2021\n\n\nAdjusted Operating Income of $(6.8) million compared to $16.8 million in Q4 2021\n\n\nAdjusted Diluted EPS of $(0.08) compared to $0.13 in Q4 2021\n\n\nAnnounces 2023 key strategic initiatives\n\n\n DULUTH, Ga.--(BUSINESS WIRE)--\nNational Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision” or the “Company”) today reported its financial results for the fourth quarter and fiscal year ended December 31, 2022, and is providing its outlook for fiscal 2023.\n\nReade Fahs, Chief Executive Officer, stated, “We ended the year in line with our guidance expectations despite the challenging macroeconomic environment which negatively impacted the optical industry and especially our core value conscious uninsured customer base. These headwinds notwithstanding, we were encouraged by positive comps in our managed care business for both the quarter and the year as well as improvements in exam capacity in a number of areas. In addition, we successfully rolled out remote medicine and electronic health record capabilities in over 300 locations and delivered on our objective of opening 80 new stores in 2022.”\n\nMr. Fahs continued, “As we enter 2023, we are building on the progress in 2022, with our 2023 key strategic initiatives including continuing to expand exam capacity, furthering the digitization of our stores and corporate office, leveraging our omni-channel capabilities and capitalizing on our whitespace opportunity. As part of these initiatives, we are making significant enhancements to Optometrist recruiting and retention initiatives, including increased scheduling options. We began piloting these changes in the fourth quarter and have seen early positive results. We plan to continue to expand our remote medicine and electronic health records capabilities to additional America’s Best stores in 2023. While we expect the uncertain macro environment and increased inflationary pressures, along with the investments in these initiatives, to weigh on profitability in the near-term, we believe the actions we are...