National Vision Holdings, Inc. (EYE) is well-poised to grow in the coming quarters, backed by the consistent market growth of the Owned and Host segments. The company’s strategic progress in terms of expanding exam capacity, recruitment and retention efforts and remote exam initiatives are highly encouraging. Further, it is also well-equipped to meet its short-term debt obligations.  However, the impact of the Walmart partnership termination remains concerning for National Vision’s operations. Excessive rel ...

Hispanolistic/E+ via Getty ImagesSummary Readers may find my previous coverage via this link. My previous rating was a hold, as I believed National Vision Holdings (NASDAQ:EYE) long-term growth outlook was uncertain. My thought was to wait for growth normalization in the results before I turned bullish. I am revising my rating to buy as I turn optimistic about management’s ability to steer business growth and margins back to normalized levels. The FY24 and FY25 guide is very positive, and so long as it ...

National Vision Holdings, Inc. (EYE) delivered an adjusted loss per share of 2 cents for the fourth quarter of 2023, narrower than the year-ago quarter’s adjusted loss of 8 cents. The figure topped the Zacks Consensus Estimate of a loss of 16 cents per share.GAAP loss in the quarter was 20 cents per share, marking a significant decline from the prior-year reported loss of 12 cents.Full-year 2023 GAAP loss was 84 cents per share against earnings of 53 cents in 2022.Revenues in DetailRevenues in the fourth qu ...

For the quarter ended December 2023, National Vision (EYE) reported revenue of $506.4 million, up 8% over the same period last year. EPS came in at -$0.02, compared to -$0.08 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $499.36 million, representing a surprise of +1.41%. The company delivered an EPS surprise of +77.78%, with the consensus EPS estimate being -$0.09.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

February 27, 2024 Forward-Looking Statements Change vs FY 2022 Adjusted Comparable Store Sales Growth1 5.7% 2.9% ❖ Opened 70 new stores in FY23 (17 in Q4) and ended the year with 1,413 stores Net Revenue ($M) 1,354 1,413 WM/MIL/FM AB EGW Q4 2022 Q4 2023 Growth Brands Total Store Count Commentary AB: (1.8)% (2.4)% • Positively impacted by timing of unearned revenue by 0.2% 1-Non-GAAP financial measure; see Appendix for reconciliation to GAAP financial measures. Q4 2023 Results (1.4)% 0.1% Adjusted Diluted EP ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-K _______________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Comm ...

Financial Performance - Net revenue for Q4 2023 was $506.4 million, an increase of 8.0% from Q4 2022[4] - Net loss for Q4 2023 was $(16.0) million, with a Diluted EPS of $(0.20), compared to a net loss of $(9.3) million and Diluted EPS of $(0.12) in Q4 2022[4] - For fiscal year 2023, net revenue was $2,126.5 million, an increase of 6.0% from fiscal year 2022[4] - Net income for the fiscal year 2023 was a loss of $65,901,000, compared to a net income of $42,122,000 in 2022[43] - Net income for Q4 2023 was $(15,987) thousand, compared to $(9,261) thousand in Q4 2022, reflecting a decline of 72.5% year-over-year[45] - Total net revenue for fiscal year 2023 was $2,126,468, with a total impact from the Legacy Segment and Corporate/Other of $(403,254)[52] - Net income (loss) for the period was $(65,901)[52] Store Operations - The company opened 17 new stores and closed 2 stores, ending the quarter with 1,413 stores, a 4.4% increase in store count from the previous year[7] - The Company projects to open 65 to 70 new stores in fiscal 2024[20] Sales Growth - Comparable store sales growth was 6.0% and Adjusted Comparable Store Sales Growth was 5.7% from Q4 2022[5] - Total comparable store sales growth for Q4 2023 was 6.0%, compared to a decline of 5.7% in Q4 2022[50] - Adjusted Comparable Store Sales Growth for Q4 2023 was 5.7%, improving from a decline of 2.4% in Q4 2022[51] - The 2024 outlook for total comparable store sales growth is projected to be between 2.5% and 4.5%[50] Operating Income and Expenses - Adjusted Operating Income for fiscal year 2023 was $72.3 million, a decrease of 17.6% compared to fiscal year 2022[17] - Adjusted Operating Income for FY 2023 was $72,321 thousand, down 17.7% from $87,795 thousand in FY 2022[45] - Selling, general and administrative expenses for the fiscal year 2023 were $991,883,000, an increase from $915,355,000 in 2022[41] - SG&A expenses for Q4 2023 were $248,285 thousand, an increase of 6.4% from $233,944 thousand in Q4 2022[48] - Adjusted SG&A as a percentage of net revenue for Q4 2023 was 46.6%, compared to 49.2% in Q4 2022[48] Cash Flow and Assets - Cash flows from operating activities for fiscal year 2023 were $173.0 million, compared to $119.2 million for fiscal year 2022[17] - Cash provided by operating activities for the fiscal year 2023 was $173,033,000, up from $119,198,000 in 2022[43] - Total assets decreased to $2,172,511,000 as of December 30, 2023, from $2,291,246,000 as of December 31, 2022[39] - Current liabilities increased to $397,700,000 as of December 30, 2023, compared to $344,264,000 as of December 31, 2022[39] Impairment and Charges - The company recorded non-cash impairment charges of $79.7 million related to the termination of the Walmart partnership in fiscal year 2023[18] - The company incurred an asset impairment of $82,413,000 for the fiscal year 2023, compared to $5,783,000 in 2022[43] Future Projections - The company expects combined revenue from the Walmart Vision Center and AC Lens operations to be approximately $145 million in fiscal 2024[13] - Net Revenue is forecasted to be between $1.965 billion and $2.005 billion[20] - Adjusted Operating Income is anticipated to range from $61 million to $76 million[20] - Adjusted Diluted EPS is expected to be between $0.50 and $0.65[20] - Depreciation and Amortization is projected to be between $95 million and $100 million[20] - Interest expenses are expected to be between $7 million and $9 million[20] - The tax rate is projected to be between 26% and 28%[20] - Capital Expenditures are anticipated to be between $110 million and $115 million[20] - The Company emphasizes that actual results may vary significantly from these projections due to various uncertainties[21] Discontinued Operations - The company expects to report Discontinued Operations for Walmart Vision Center Operations starting Q1 2024 and for AC Lens Operations in Q2 2024[53] - Included in SG&A for Corporate/Other Segment is $7.9 million representing Walmart store operations' share of corporate costs[52] - Depreciation and amortization included $1.8 million related to Walmart store operations and $2.6 million related to AC Lens operations[52] - The anticipated effect of the disposal of Walmart Vision Center and AC Lens businesses is being assessed for future reporting[52] - The results presented are estimates and subject to adjustment as the company implements revised accounting treatment[53] Investor Relations - Investor relations contact is available through Tamara Gonzalez and Caitlin Churchill at National Vision Holdings, Inc.[54]

National Vision's (EYE) impending termination of its Legacy business might dent growth. High dependence on a limited number of vendors and a tough competitive landscape are other threats. The stock carries a Zacks Rank #4 (Sell) currently.National Vision, in July 2023, announced that its long-term partnership with Walmart is going to be terminated on Feb 23, 2024. In connection with the termination of the Walmart contract, the company recorded $60.1 million related to Legacy segment goodwill, $9.1 million r ...

DULUTH, Ga.--(BUSINESS WIRE)--National Vision Holdings, Inc. (NASDAQ: EYE) (“National Vision” or the “Company”) will report its fourth quarter and fiscal 2023 financial results before the market opens on Tuesday, February 27, 2024. The Company will host a conference call to discuss these results on Tuesday, February 27, 2024, at 8:30 a.m. Eastern Time. To pre-register for the conference call and obtain a dial-in number and passcode, please refer to the “Investors” section of the Company’s website at www.nat ...

Limited-edition collaboration features innovative designs that complement diverse faces.DULUTH, Ga., Jan. 30, 2024 /PRNewswire/ -- National Vision, Inc. the nation's second largest optical retailer and provider of quality, affordable eye care and eyewear, announced its collaboration with women and Black-owned eyewear company, Vontélle Eyewear, on an exclusive frame collection celebrating Black History Month. The limited-edition Official by Vontélle frames will be available while supplies last in all 900+ Am ...