Business
National Vision Holdings, Inc. Reports Second Quarter 2021 Financial Results; Raises Fiscal 2021 Outlook
Quarterly highlights compared to second quarter 2019: Net revenue increased 28.0% to $549.5 million Comparable store sales growth of 22.5%; Adjusted
About this update from National Vision Holdings, Inc.
[{"type":"text","content":"\nQuarterly highlights compared to second quarter 2019:\n\n\nNet revenue increased 28.0% to $549.5 million\n\n\nComparable store sales growth of 22.5%; Adjusted Comparable Store Sales Growth of 23.5%\n\n\nNet income increased 267% to $37.6 million; Diluted EPS increased 230% to $0.42\n\n\nAdjusted Operating Income increased 125% to $65.6 million\n\n\nAdjusted Diluted EPS increased 163% to $0.48\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 second quarter ended July 3, 2021.\n\nGiven the lack of comparability to the second quarter of fiscal 2020 when the Company temporarily closed all of its retail locations to the public through early June due to COVID-19, this release includes a comparison of fiscal 2021 results to fiscal 2019 pre-COVID results, in addition to a condensed comparison to fiscal 2020. For a complete discussion of fiscal 2021 results as compared to fiscal 2020, please see our Quarterly Report on Form 10-Q for the quarter ended July 3, 2021 filed with the Securities and Exchange Commission.\n\n“The National Vision team delivered exceptionally strong results for the second quarter,” stated Reade Fahs, chief executive officer. “We believe our continued operating momentum further demonstrates the benefit from the hastening of industry trends that favor our low price model and strong store-level execution to meet heightened demand for affordable eyewear and eye care. I would like to thank the 2,000-plus optometrists and over 13,000 associates at National Vision for their continued resilience and commitment to serve our patients and customers.”\n\nMr. Fahs continued, “During the quarter, we opened 20 stores and achieved another major milestone, as our trailing twelve month net revenue surpassed $2 billion. Also, we were pleased by the positive trend in customer transactions throughout the quarter, especially in June when we lapped record re-opening results last year. Looking ahead, we continue to be excited about our long-term opportunities for expansion and market share growth. Given our consistent performance since re-opening last year and our safety first approach, we are confident in our ability to navigate the challenging and dynamic environment and remain in a position of strength to drive long-ter...