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Sep 26, 2020
National Vision Q3 2020 Earnings Report
National Vision reported an exceptionally strong Q3, establishing a new record for quarterly profit and experiencing the best comp sales growth in 18 years.
Key Takeaways
National Vision Holdings, Inc. reported a strong third quarter with a 12.4% increase in net revenue to $485.4 million and a comparable store sales growth of 11.6%. Net income increased significantly to $35.3 million, with diluted EPS rising to $0.42. The company opened 18 new stores, reaching a total of 1,201 stores.
Net revenue increased 12.4% to $485.4 million.
Comparable store sales growth of 11.6%; Adjusted Comparable Store Sales Growth of 12.4%.
Net income increased 2,860% to $35.3 million; Diluted EPS increased 2,782% to $0.42.
Adjusted EBITDA increased 89.3% to $88.1 million.
Forward Guidance
The Company is providing the following outlook for the 14 week and 53 week periods ending January 2, 2021, respectively. For the Company’s fourth quarter and fiscal 2020 outlook, the Company estimates that the 53rd week will contribute approximately $35 million to net revenue with an approximately break-even impact to Adjusted Diluted EPS due to the net change in margin on unearned revenue.
Positive Outlook
- New Stores ~5
- Adjusted Comparable Store Sales Growth 5% - 9%
- Net Revenue $460 - $475 million
- Adjusted EBITDA $42 - $47 million
- Adjusted Operating Income $20 - $25 million
Challenges Ahead
- Adjusted Diluted EPS $0.10 - $0.14
- New Stores~57
- Adjusted Comparable Store Sales Growth1 (6.4%) - (7.4%)
- Net Revenue $1.675 - $1.690 billion
Historical Earnings Impact
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Avg. Return Before/After Earnings
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