Business
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of National Vision Holdings, Inc. - EYE
New York, New York--(Newsfile Corp. - March 17, 2023) - Pomerantz LLP is investigating claims on ...
About this update from Rise Nano Optics Ltd.
[{"type":"text","content":"SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of National Vision Holdings, Inc. - EYENew York, New York--(Newsfile Corp. - March 17, 2023) - Pomerantz LLP is investigating claims on behalf of investors of National Vision Holdings, Inc. (\"National Vision\" or the \"Company\") (NASDAQ: EYE). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.The investigation concerns whether National Vision and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On November 10, 2021, National Vision issued a press release which announced the Company's financial results for the third quarter of 2021. Among other items, the release tightened the Company's sales and revenue outlook toward the upper end of its previously issued 2021 guidance, but did not change the Company's earnings outlook, indicating that National Vision was suffering from a substantial deterioration in profit margins during the fourth quarter 2021. That same day, National Vision held an earnings call with analysts and investors, during which the Company's Chief Financial Officer admitted that \"lower Q4 profitability\" was not due to unforeseen circumstances, but rather in substantial part \"due to the impact of the wage investments implemented earlier this year.\" On this news, National Vision's stock price fell $8.30 per share, or 13.07%, to close at $55.22 per share on November 10, 2022. Then, on May 10, 2022, National Vision issued disappointing financial and operational results for its first fiscal quarter of 2022. Among other items, the Company reported that during the quarter, on a year-over-year basis, the Company's net revenues had decreased 1.2% to $527.7 million, its adjusted comparable store sales had fallen 6.8%, net income had decreased 30.6% to $30.1 million, and its diluted EPS had decreased 28.2% to $0.34. The release also slashed the Company's 2022 outlook, lowering adjusted CSS to a range of negative 7% to negative 4%, net revenue to a range of $2.01 billion to $2.07 billion, adjusted operating income to a range of $85 million to $105 million, and adjusted diluted EPS to a range of $0.65 to $0.80. Notably, the revised projections indicated that the C...