Business
National Vision Holdings, Inc. Reports Third Quarter 2021 Financial Results; Updates Fiscal 2021 Outlook
Quarterly highlights compared to third quarter 2019: Net revenue increased 19.9% to $518.0 million Comparable store sales growth of 15.7%; Adjusted
About this update from National Vision Holdings, Inc.
[{"type":"text","content":"\nQuarterly highlights compared to third quarter 2019:\n\n\nNet revenue increased 19.9% to $518.0 million \n\n\nComparable store sales growth of 15.7%; Adjusted Comparable Store Sales Growth of 13.3% \n\n\nNet income of $41.0 million; Diluted EPS of $0.45\n\n\nAdjusted Operating Income of $54.7 million \n\n\nAdjusted Diluted EPS of $0.38\n\n\nBoard authorizes $50 million share repurchase program \n\n\nCompany makes $50 million Term Loan A prepayment \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 third quarter ended October 2, 2021.\n\nGiven the impact of COVID-related store closures last year, consistent with our second quarter earnings release, 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 October 2, 2021 filed with the Securities and Exchange Commission.\n\n“We are pleased with our third quarter results, as sales remained healthy with total sales up nearly 20% and comparable store sales up over 13% on a 2-year basis against 2019,” stated Reade Fahs, chief executive officer. “Additionally, despite Delta variant concerns and a decline from an elevated average ticket last year, we delivered a slight comp increase against 2020 on continued growth in customer transactions. All credit goes to the dedicated patient and customer care of the 2,000-plus optometrists and over 13,000 associates at National Vision who continue to successfully navigate the many challenges this environment throws our way.”\n\nMr. Fahs continued, “During the quarter, we opened 14 stores and continue to be excited about our long-term opportunities for expansion and market share growth. Additionally, given our strong cash flows, we made a voluntary $50 million prepayment under our credit agreement earlier this week and today announced our board approved a $50 million stock repurchase program. Looking ahead, as sales trends and customer demand continue to normalize from record levels during the COVID-19 pandemic, we believe we remain in a position of strength to continue to deliver sustainable growth.”\n\n...