National Vision Holdings, Inc. Reports Second Quarter 2024 Financial Results

About this update from National Vision Holdings, Inc.

[{"type":"text","content":"\nAnnounces New Actions to Accelerate Transformation\n\n\nSecond quarter 2024 highlights(1) compared to Q2 2023:\n\n\n\nNet revenue from continuing operations of $451.7 million, an increase of 4.6%\n\n\n\nComparable store sales growth of 2.2% and Adjusted Comparable Store Sales Growth of 2.4%\n\n\n\nNet loss from continuing operations of $(1.0) million, Diluted EPS from continuing operations of $(0.01)\n\n\n\nAdjusted Operating Income from continuing operations of $14.1 million\n\n\n\nAdjusted Diluted EPS from continuing operations of $0.15\n\n\n\nDiscontinued Operations resulted in net revenue of $53.5 million, Net loss, net of tax, of $(2.1) million, Diluted EPS of $(0.03) and Adjusted Diluted EPS of $0.00\n\n\n\nRevises fiscal 2024 outlook\n\n\n\n(1) During the first quarter of 2024, the Company completed the termination of its Walmart partnership and discontinued the prior Legacy segment. During the second quarter of 2024, the Company completed the wind down of AC Lens operations and discontinued operations in that business.\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 June 29, 2024.\n\n\n“Comparable store sales growth in the second quarter improved sequentially from the first quarter largely due to increased traffic,” said Reade Fahs, National Vision’s CEO. “We delivered an overall 2.4% increase in adjusted comparable store sales, and a 2.9% increase at America’s Best, reflecting ongoing strength in managed care and a notable improvement in comparable store sales from cash pay customers. Although this progress is positive, we needed a greater inflection in sales to deliver on the results we originally expected and are revising our guidance accordingly.\n\n\n“We have been transforming our business over the past two years to adapt to new market realities and made valuable changes to the way we operate, however we need to do more to accelerate both the pace and rigor of our transformation. As such, we are taking new actions to drive profitable growth, including recently announced additions to our leadership team that will bring new talent and fresh perspectives to our business as we seek to expand exam capacity, implement new sales drivers and improve efficiencies to strengthen our founda...

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