Business
National Vision Provides COVID-19 Related Business Update
DULUTH, Ga.--(BUSINESS WIRE)-- National Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision” or the “Company”), one of the nation’s largest optical
About this update from National Vision Holdings, Inc.
[{"type":"text","content":" DULUTH, Ga.--(BUSINESS WIRE)--\nNational Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision” or the “Company”), one of the nation’s largest optical retailers providing quality, affordable eye care and eyewear, today announced that it has extended the temporary closure to the public of its retail locations beyond March 28th as part of a continued community response to help stem the spread of COVID-19. The Company also announced that, in the coming weeks, it intends to begin selectively re-opening retail stores to the public with increased safety protocols and a focus on serving the most urgent eye care needs of patients and customers.\n\n\nAmerica’s Best Contacts & Eyeglasses and Eyeglass World are continuing to serve customers through their websites americasbest.com and eyeglassworld.com, respectively. Additional updated information on store openings, customer care and service of urgent eye care needs for customers is available on the Company’s brand websites. The Company’s other e-commerce websites, including discountglasses.com and discountcontacts.com, also remain fully operational.\n\n\n“This is, of course, such a complex dilemma,” said Chief Executive Officer Reade Fahs. “As individuals, companies, and as a country, we are balancing trying to stay physically safe and healthy while also trying to ensure our ongoing financial wellbeing. As the road to recovery across the country remains uncertain, National Vision is taking actions to manage our costs and strengthen our financial flexibility so that our patients and customers can continue to depend on us for low cost eye health care, eyeglasses and contact lenses long into the future. Concurrently, our team is focused on plans to begin selectively re-opening retail stores to the public in the coming weeks with increased safety protocols and a focus on serving the most urgent eye care needs of patients and customers.”\n\n\nThe Company is implementing initiatives across the organization to reduce expenses and capital expenditures, including a pause in new store openings and reduced near-term marketing among other actions. As part of the Company’s expense initiatives, Chief Executive Officer Reade Fahs has elected to reduce his base salary to $1 for the remainder of 2020. The two senior executives at our AC Lens division have also agreed to work at the rate of $1 for 2020. Th...