National Vision Holdings, Inc. Details Transformation Strategy and Long-Term Financial Objectives Underpinning Bold Reinvention

Core Insights - National Vision Holdings, Inc. is implementing a comprehensive transformation strategy aimed at driving long-term value and sustainable growth [2][3] - The company anticipates high-single-digit annual net revenue growth and adjusted operating margin expansion of 50 to 150 basis points through fiscal 2030 [1][11] - A multi-year cost-saving plan is expected to yield approximately $20 million in annualized savings, with half of this expected by fiscal 2026 [7] Financial Objectives - The company projects high-single-digit net revenue increases and mid-single-digit comparable store sales growth for fiscal 2026 [1][11] - Annual adjusted operating margin is expected to expand by approximately 100 basis points compared to the midpoint of the fiscal 2025 outlook range [11] - Capital expenditures are projected to represent about 4-5% of annual revenue through 2030, with a phased investment approach focusing on transformation initiatives initially [9] Growth Vectors - National Vision is targeting underdeveloped customer segments, including managed care patients and progressive lens wearers, to expand its market share in the $70 billion U.S. optical retail market [3] - The company sees significant opportunities in premium lens categories, estimating that a 1% increase in penetration across three key products could generate nearly $40 million in additional revenue [4] - Enhancements in customer experience through data-driven insights and personalized services are central to the transformation strategy [5] Store Expansion and Network - National Vision operates over 1,200 stores across 38 states and plans to open approximately 30 new stores per year between 2026 and 2027, accelerating to about 60 stores per year from 2028 to 2030 [6][11] - The company is optimizing its existing store fleet while strategically expanding into new markets and formats [6] Cost Savings Strategy - The multi-year cost savings plan focuses on renegotiating vendor pricing and improving efficiencies, contributing to the anticipated $20 million in annual savings [7]