Financial Data and Key Metrics Changes - For Q1 2022, net revenue decreased by 1.2% compared to the record Q1 sales last year, with adjusted comparable store sales declining by 6.8% compared to a strong 35.8% increase in Q1 2021 [9][25] - Adjusted operating income decreased by 33% to $45 million, and adjusted diluted EPS decreased by 32% to $0.33 [30] - Compared to 2019, net revenue increased by 14.4% [25] Business Line Data and Key Metrics Changes - The company opened 15 new America's Best stores and two Eyeglass World stores, resulting in a 5% increase in store count [26] - Average ticket declined slightly year-over-year but increased sequentially from Q4 [27] - Adjusted SG&A expense as a percentage of net revenue increased by 110 basis points due to deleveraging of advertising, store payroll, and occupancy expenses [29] Market Data and Key Metrics Changes - The company experienced solid growth in sales tied to vision insurance, as insured consumers were less deterred from shopping in a tight economy [22] - Comparable store sales related to managed care grew in the positive low single digits [23] Company Strategy and Development Direction - The company is focused on overcoming current headwinds by improving exam capacity through recruitment and retention actions, including the acceleration of remote medicine initiatives [10][18] - The company plans to open at least 80 stores in 2022, with a solid pipeline for future locations [20] - The pricing strategy was adjusted for America's Best and Eyeglass World to remain competitive in the current inflationary environment [12][62] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the current challenges are temporary and expressed confidence in the long-term health of the business model [10][24] - The updated fiscal 2022 outlook reflects expected impacts from macroeconomic factors, projecting net revenue between $2.01 billion and $2.07 billion [36][38] - Management noted that the operating environment is uncertain, and they have taken a conservative posture in their outlook [37] Other Important Information - The company reported a strong cash position of approximately $315 million and total liquidity exceeding $600 million [31] - The company is committed to investing in key growth initiatives despite current challenges [40] Q&A Session All Questions and Answers Question: Can you quantify how much of the challenge is associated with macro pressure on the lower-income consumer versus capacity constraints? - Management indicated that the challenges were somewhat balanced between economic factors and optometrist capacity factors, with a notable slowdown in consumer demand, especially among lower-income uninsured consumers [54][55] Question: To what degree does the pressure on the availability of optometrists persist, and how will you manage through that? - Management stated that they have managed through optometrist wage pressure in the past and will continue to offset these pressures across other areas of the P&L [56][58] Question: Can you talk about the added gross margin pressure versus initial expectations? - Management noted that there was some deleveraging of fixed costs within gross margin, which contributed to the added pressure [61] Question: Why is now the right time to change the America's Best Signature offer? - Management explained that the decision to raise prices had been under review for a while, and they believe the market gap will widen further in an inflationary environment [62] Question: Can you discuss the exam constraints and how many optometrists are currently at capacity? - Management clarified that the exam capacity issue is due to a lack of available optometrists to meet consumer demand, and they expect capacity to improve with record hiring and the rollout of remote medicine [71][72] Question: What are the trends in the legacy segment? - Management indicated that the legacy group performed better than America's Best and Eyeglass World, with positive comps noted in certain segments [88]

National Vision Holdings, Inc. (NASDAQ:EYE) Q4 2021 Earnings Conference Call February 28, 2022 10:00 AM ET Company Participants David Mann - Vice President of Investor Relations Reade Fahs - Chief Executive Officer Patrick Moore - Chief Financial Officer Conference Call Participants Paul Lejuez - Citi Zack Fadem - Wells Fargo Michael Lasser - UBS Adrienne Yih - Barclays Capital Kate McShane - Goldman Sachs Stephanie Wissink - Jefferies Dylan Carden - William Blair Anthony Chukumba - Loop Capital Markets Ope ...

Q4 and Fiscal Year End 2021 Financial Results February 28, 2022 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements contained under "Fiscal 2022 Outlook" as well as other statements related to our current beliefs and expectations regarding the performance ...

Q3 2021 Financial Results November 10, 2021 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements contained under "Fiscal 2021 Outlook" as well as other statements related to our current beliefs and expectations regarding the performance of our industry, the ...

Financial Data and Key Metrics Changes - Net revenue increased nearly 20% compared to Q3 2019, with adjusted comparable store sales growth of 13.3% over the same period [7][19] - Adjusted operating income rose 110% to $54.7 million, and adjusted EPS increased 134% to $0.38 [25][26] - Year-to-date net revenue increased 21% versus 2019, totaling $1.6 billion, with adjusted diluted EPS more than doubling to $1.35 [26][27] Business Line Data and Key Metrics Changes - The growth brands, America's Best and Eyeglass World, led the top-line strength, with unit growth of nearly 7% over the last 12 months [20][13] - 14 new stores were opened during the quarter, bringing the total to 1,262 locations [7][20] Market Data and Key Metrics Changes - The optical industry remains highly fragmented, presenting significant opportunities for market share growth [10] - The company experienced slightly positive comparable performance versus 2020, despite challenges from COVID-19 variants and a muted back-to-school season [10][11] Company Strategy and Development Direction - The company plans to continue opening new stores, with a target of about 75 stores in 2021 and a solid pipeline for next year [13][84] - Marketing investments are being increased to drive customer traffic, with a focus on digital and omnichannel initiatives [15][17] - The company aims to maintain a strong relationship with optometrists and invest in programs to enhance retention and exam capacity [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business's resilience and ability to navigate the evolving environment, despite uncertainties related to COVID-19 [32][42] - The outlook for fiscal 2021 projects net revenue between $2.04 billion and $2.06 billion, with adjusted comparable store sales growth of 21% to 22% [33][34] Other Important Information - The company released its first corporate responsibility report, highlighting its ESG efforts [8][44] - A $50 million share repurchase program was announced, alongside a $50 million debt repayment [8][30] Q&A Session Summary Question: Comments on back-to-school season and fourth-quarter profitability - Management noted a muted back-to-school season and explained that while sales are expected to grow over 2019, profitability may decline due to increased marketing and wage investments [49][56] Question: Optical market growth expectations - Management indicated that the optical market remains unpredictable due to COVID-19, but they expect continued growth driven by customer transactions [61][62] Question: Share gains and marketing investments - Management believes they are still gaining market share and plans to increase marketing investments to support growth [69][70] Question: Customer purchasing patterns in high gas price environments - Management acknowledged that customers operate on tight budgets, which can affect purchasing patterns, but they remain resilient in both good and bad economic times [89][90] Question: Store pipeline for 2022 - Management confirmed a strong store pipeline for 2022, with no issues finding good locations and a target of 75 new stores [84][85]

National Vision Holdings, Inc. (NASDAQ:EYE) Q2 2021 Results Conference Call August 12, 2021 10:00 AM ET Company Participants David Mann - Vice President of Investor Relations Reade Fahs - Chief Executive Officer Patrick Moore - Chief Financial Officer Conference Call Participants Michael Lasser - UBS Investment Bank Paul Lejuez - Citigroup Inc Michael Kessler - Morgan Stanley Zachary Fadem - Wells Fargo Securities Adrienne Yih-Tennant - Barclays Bank Anthony Chukumba - Loop Capital Markets Robert Ohmes - Bo ...

National Vision Holdings, Inc. Reports Second Quarter 2021 Financial Results; Raises Fiscal 2021 Outlook August 12, 2021 Quarterly highlights compared to second quarter 2019: Net revenue increased 28.0% to $549.5 million Comparable store sales growth of 22.5%; Adjusted Comparable Store Sales Growth of 23.5% Net income increased 267% to $37.6 million; Diluted EPS increased 230% to $0.42 Adjusted Operating Income increased 125% to $65.6 million Adjusted Diluted EPS increased 163% to $0.48 DULUTH, Ga.--(BUSINE ...

National Vision Holdings, Inc. (NASDAQ:EYE) Q1 2021 Earnings Conference Call May 13, 2021 10:00 AM ET Company Participants David Mann - Vice President of Investor Relations Reade Fahs - Chief Executive Officer Patrick Moore - Chief Financial Officer Conference Call Participants Steph Wissink - Jefferies Adrienne Yih - Barclays Simeon Gutman - Morgan Stanley Paul Lejuez - Citigroup Robbie Ohmes - Bank of America Kate McShane - Goldman Sachs Michael Lasser - UBS Dylan Carden - William Blair Operator Good day, ...

National Vision Holdings, Inc. (NASDAQ:EYE) Q4 2020 Earnings Conference Call March 3, 2021 10:00 AM ET Company Participants David Mann - Vice President-Investor Relations Reade Fahs - Chief Executive Officer Patrick Moore - Chief Financial Officer Conference Call Participants Simeon Gutman - Morgan Stanley Bob Drbul - Guggenheim Securities Michael Lasser - UBS Zack Sadam - Wells Fargo Steph Wissink - Jefferies Paul Lejuez - Citigroup Dylan Carden - William Blair Operator Ladies and gentlemen, thank you for ...

Financial Highlights - Q4 Net Revenue reached $496.7 million, a 23.6% increase compared to Q4 2019[6] - Adjusted Operating Income for Q4 was $62.8 million, a 281% increase from Q4 2019[6] - Q4 Adjusted Diluted EPS was $0.45, significantly higher than the $0.09 reported in Q4 2019[6] - Adjusted EBITDA for Q4 was $83.5 million, a 118% increase over Q4 2019[6] - Fiscal Year 2020 Net Revenue decreased by 0.7% year-over-year[22] - Fiscal Year 2020 Adjusted Operating Income increased by 17.4% to $134.1 million[23] - Fiscal Year 2020 Adjusted Diluted EPS increased by 21.9% to $0.91[24] Store Growth and Sales - The company opened 5 new stores in Q4, ending the year with a total of 1,205 stores[6] - Adjusted Comparable Store Sales Growth was 10.6% in Q4, marking the second consecutive quarter of double-digit comps[6] Future Outlook - Fiscal 2021 outlook projects approximately 75 new stores[30] - Fiscal 2021 outlook projects Adjusted Comparable Store Sales Growth of 13%-16%[30] - Fiscal 2021 outlook projects Net Revenue between $1.93 - $1.98 billion[30]